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

Analysts at StockNews.com assumed coverage on shares of Primo Water (NYSE:PRMW) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

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

Primo Water Price Performance

Primo Water stock opened at $24.21 on Tuesday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The firm has a 50-day moving average of $25.54 and a two-hundred day moving average of $23.23. Primo Water has a 1 year low of $14.06 and a 1 year 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in Primo Water by 18.9% during the 3rd quarter. FMR LLC now owns 17,432,920 shares of the company’s stock worth $440,181,000 after purchasing an additional 2,765,388 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Primo Water during the second quarter valued at $12,732,000. Cinctive Capital Management LP increased its position in shares of Primo Water by 219.1% in the 3rd quarter. Cinctive Capital Management LP now owns 714,389 shares of the company’s stock valued at $18,038,000 after acquiring an additional 490,486 shares during the period. Acadian Asset Management LLC raised its stake in Primo Water by 559.2% in the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after acquiring an additional 464,232 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its position 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 worth $34,849,000 after acquiring an additional 419,370 shares during the period. 87.71% of the stock is currently owned by hedge funds and other 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.