Primo Water (NYSE:PRMW) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Primo Water (NYSE:PRMW) in a research note issued on Monday. The brokerage set a “buy” rating on the stock.

PRMW has been the topic of a number of other reports. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. 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, Primo Water presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Down 0.9 %

PRMW stock opened at $24.21 on Monday. The firm has a market cap of $3.88 billion, a PE ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. Primo Water has a 12 month low of $14.06 and a 12 month high of $28.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $25.44 and a 200 day simple moving average of $23.33.

Institutional Trading of Primo Water

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in Primo Water by 9.5% in the 3rd quarter. Tidal Investments LLC now owns 85,353 shares of the company’s stock worth $2,155,000 after purchasing an additional 7,373 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Primo Water by 17.4% in the 3rd quarter. Toronto Dominion Bank now owns 87,429 shares of the company’s stock valued at $2,208,000 after buying an additional 12,963 shares in the last quarter. Barclays PLC increased its holdings in Primo Water by 215.0% in the third quarter. Barclays PLC now owns 244,054 shares of the company’s stock worth $6,162,000 after buying an additional 166,579 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Primo Water during the third quarter valued at approximately $453,000. Finally, XTX Topco Ltd acquired a new stake in Primo Water in the third quarter valued at approximately $377,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Water

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.