Primo Water (NASDAQ:PRMW) Rating Lowered to Hold at BidaskClub

Primo Water (NASDAQ:PRMW) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

A number of other research firms have also recently weighed in on PRMW. BMO Capital Markets set a $19.00 price objective on shares of Primo Water and gave the company a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Friday, May 17th. Imperial Capital cut their price objective on shares of Primo Water from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barrington Research set a $18.00 target price on shares of Primo Water and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Northland Securities reissued a “buy” rating and set a $19.00 target price on shares of Primo Water in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.00.

PRMW stock traded up $0.49 during mid-day trading on Thursday, reaching $11.83. 1,968,370 shares of the stock traded hands, compared to its average volume of 396,630. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.99 and a quick ratio of 0.70. Primo Water has a one year low of $10.70 and a one year high of $20.72. The firm has a market cap of $435.02 million, a PE ratio of 42.85, a PEG ratio of 2.90 and a beta of 0.71. The company has a 50-day simple moving average of $13.27.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.76%. The firm had revenue of $79.30 million for the quarter, compared to the consensus estimate of $78.01 million. During the same quarter last year, the firm earned $0.12 EPS. The company’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Primo Water will post 0.26 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of PRMW. SG Capital Management LLC purchased a new stake in shares of Primo Water during the second quarter valued at $7,251,000. Heartland Advisors Inc. purchased a new stake in shares of Primo Water during the second quarter valued at $6,683,000. William Blair Investment Management LLC boosted its stake in shares of Primo Water by 24.9% during the first quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock valued at $23,612,000 after purchasing an additional 304,083 shares during the period. First Trust Advisors LP purchased a new stake in shares of Primo Water during the first quarter valued at $4,509,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Primo Water by 11.8% during the first quarter. JPMorgan Chase & Co. now owns 1,750,583 shares of the company’s stock valued at $27,064,000 after purchasing an additional 184,417 shares during the period. 86.54% of the stock is owned by hedge funds and other institutional investors.

Primo Water Company Profile

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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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