Primo Water (NYSE:PRMW) Now Covered by Analysts at StockNews.com

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

PRMW has been the subject of several other reports. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. William Blair began coverage on Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have given 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 %

Shares of NYSE:PRMW opened at $24.21 on Wednesday. The firm has a market cap of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a 12-month low of $14.06 and a 12-month high of $28.06. The business has a fifty day simple moving average of $25.50 and a 200 day simple moving average of $23.12.

Institutional Trading of Primo Water

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRMW. Jane Street Group LLC boosted its stake in Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new position in Primo Water during the 1st quarter valued at about $879,000. Intact Investment Management Inc. boosted its stake in Primo Water by 43.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares during the last quarter. Tidal Investments LLC boosted its stake in Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after purchasing an additional 54,569 shares during the last quarter. Finally, Hiddenite Capital Partners LP boosted its stake in Primo Water by 50.0% during the 3rd quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the company’s stock valued at $3,788,000 after purchasing an additional 50,000 shares during the last quarter. 87.71% of the stock is owned by institutional investors.

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.