Primo Water (PRMW) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Primo Water (NASDAQ:PRMW) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

PRMW has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Primo Water from a hold rating to a sell rating in a research report on Saturday, November 10th. Imperial Capital initiated coverage on shares of Primo Water in a research report on Friday, November 16th. They set an outperform rating and a $18.00 target price for the company. BidaskClub cut Primo Water from a buy rating to a hold rating in a report on Saturday, January 5th. Finally, Barrington Research restated a buy rating and issued a $21.00 price target on shares of Primo Water in a report on Wednesday, October 17th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $19.20.

PRMW opened at $14.54 on Thursday. The company has a market cap of $574.94 million, a P/E ratio of -51.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.58. Primo Water has a 1 year low of $11.16 and a 1 year high of $20.72. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.94 and a quick ratio of 0.73.

Primo Water (NASDAQ:PRMW) last posted its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. The firm had revenue of $81.80 million during the quarter, compared to the consensus estimate of $83.26 million. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.31%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, analysts expect that Primo Water will post 0.32 earnings per share for the current year.

In other Primo Water news, VP Michael Cauthen sold 1,859 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $14.53, for a total value of $27,011.27. Following the completion of the transaction, the vice president now owns 5,456 shares in the company, valued at approximately $79,275.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PRMW. Rhumbline Advisers boosted its stake in shares of Primo Water by 15.9% during the 2nd quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock valued at $463,000 after buying an additional 3,626 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Primo Water by 43.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,647 shares of the company’s stock valued at $2,740,000 after buying an additional 47,114 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Primo Water during the 2nd quarter valued at approximately $1,276,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Primo Water by 20.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 63,921 shares of the company’s stock valued at $1,118,000 after buying an additional 10,716 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Primo Water during the 2nd quarter valued at approximately $259,000. Institutional investors own 75.84% of the company’s stock.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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