Primo Water Co. (NYSE:PRMW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Primo Water Co. (NYSE:PRMW) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.50.

Several brokerages have weighed in on PRMW. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price on the stock. in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price objective on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada increased their price target on shares of Primo Water from $19.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th.

Primo Water Trading Down 1.8 %

PRMW opened at $22.33 on Monday. The company has a quick ratio of 2.02, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $20.57 and its 200-day moving average is $17.39. The firm has a market capitalization of $3.57 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.63 and a beta of 1.09. Primo Water has a 52-week low of $12.27 and a 52-week high of $23.35.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $452.00 million for the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. Analysts expect that Primo Water will post 0.89 EPS for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.61%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

Institutional Investors Weigh In On Primo Water

A number of hedge funds have recently made changes to their positions in PRMW. Charles Schwab Investment Management Inc. boosted its stake in Primo Water by 37.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,759 shares of the company’s stock worth $10,416,000 after purchasing an additional 205,010 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Primo Water by 15.6% in the third quarter. Deutsche Bank AG now owns 81,715 shares of the company’s stock valued at $1,128,000 after buying an additional 11,013 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Primo Water by 7.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 234,851 shares of the company’s stock worth $3,241,000 after buying an additional 16,866 shares in the last quarter. Aigen Investment Management LP bought a new position in Primo Water in the 3rd quarter valued at $139,000. Finally, River Road Asset Management LLC acquired a new stake in Primo Water in the third quarter worth about $3,537,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.