StockNews.com Upgrades Primo Water (NYSE:PRMW) to Buy

Primo Water (NYSE:PRMW) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also weighed in on the stock. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair started coverage on shares of Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Price Performance

Shares of NYSE PRMW opened at $24.21 on Thursday. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06. The firm has a market cap of $3.88 billion, a P/E ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a 50 day moving average of $25.47 and a 200 day moving average of $23.00. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. raised its position in shares of Primo Water by 108.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after buying an additional 50,000 shares in the last quarter. Jane Street Group LLC raised its position in Primo Water by 170.4% in the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after purchasing an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. purchased a new stake in Primo Water in the 1st quarter worth about $879,000. Intact Investment Management Inc. raised its position in Primo Water by 43.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock worth $34,849,000 after purchasing an additional 419,370 shares during the period. Finally, Tidal Investments LLC raised its position in Primo Water by 471.2% in the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock worth $1,205,000 after purchasing an additional 54,569 shares during the period. Institutional investors own 87.71% of the company’s stock.

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.