Primo Water (NASDAQ:PRMW) Given a $17.00 Price Target by Northland Securities Analysts

Primo Water (NASDAQ:PRMW) has been assigned a $17.00 target price by analysts at Northland Securities in a note issued to investors on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the stock. Northland Securities’ price target would suggest a potential upside of 29.18% from the company’s current price.

A number of other equities analysts also recently commented on the company. BidaskClub upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Imperial Capital reduced their price objective on Primo Water from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of Primo Water in a research report on Friday, September 6th. Finally, BMO Capital Markets set a $19.00 price target on shares of Primo Water and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $17.40.

Shares of PRMW traded up $0.28 during mid-day trading on Tuesday, reaching $13.16. The company had a trading volume of 343,730 shares, compared to its average volume of 310,550. Primo Water has a fifty-two week low of $10.70 and a fifty-two week high of $20.26. The firm has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $13.55. The stock has a market cap of $506.31 million, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 4.09 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.71 and a debt-to-equity ratio of 2.05.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Primo Water had a positive return on equity of 11.75% and a negative net margin of 18.85%. The firm had revenue of $79.30 million for the quarter, compared to analyst estimates of $78.01 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts predict that Primo Water will post 0.26 EPS for the current fiscal year.

In other Primo Water news, Director Susan E. Cates purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $12.23 per share, with a total value of $61,150.00. Following the transaction, the director now owns 28,968 shares in the company, valued at $354,278.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 6,459 shares of company stock valued at $77,820. 10.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Primo Water by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 53,205 shares of the company’s stock worth $654,000 after acquiring an additional 853 shares during the period. US Bancorp DE raised its stake in shares of Primo Water by 8.0% during the second quarter. US Bancorp DE now owns 16,751 shares of the company’s stock valued at $206,000 after purchasing an additional 1,237 shares during the period. Boston Partners acquired a new position in shares of Primo Water during the second quarter worth $28,000. Aperio Group LLC acquired a new position in shares of Primo Water during the second quarter worth $35,000. Finally, Bank of Montreal Can boosted its stake in shares of Primo Water by 26,645.5% in the second quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after purchasing an additional 2,931 shares during the period. Institutional investors and hedge funds own 90.21% 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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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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