Primo Water (NYSE:PRMW) Stock Rating Upgraded by StockNews.com

Primo Water (NYSE:PRMW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities analysts have also recently issued reports on the stock. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Finally, William Blair assumed coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Down 0.9 %

Shares of NYSE PRMW opened at $24.21 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a 52-week low of $14.06 and a 52-week high of $28.06. The firm has a 50 day moving average price of $25.32 and a two-hundred day moving average price of $22.84. The stock has a market cap of $3.88 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that Primo Water will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of Primo Water during the third quarter valued at about $1,073,000. King Luther Capital Management Corp lifted its position in shares of Primo Water by 2.7% during the third quarter. King Luther Capital Management Corp now owns 252,768 shares of the company’s stock valued at $6,382,000 after purchasing an additional 6,584 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Primo Water by 4.3% during the third quarter. Global Alpha Capital Management Ltd. now owns 133,132 shares of the company’s stock valued at $3,362,000 after purchasing an additional 5,432 shares in the last quarter. Caldwell Investment Management Ltd. bought a new position in shares of Primo Water during the third quarter valued at about $6,172,000. Finally, Natixis Advisors LLC lifted its position in shares of Primo Water by 3.6% during the third quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock valued at $616,000 after purchasing an additional 852 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.