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.
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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