Northland Securities lowered shares of Primo Water (NASDAQ:PRMW) from an outperform rating to a market perform rating in a research note released on Monday morning, The Fly reports. The firm currently has $14.00 target price on the stock, down from their previous target price of $16.00.
A number of other brokerages also recently weighed in on PRMW. William Blair downgraded shares of Primo Water from an outperform rating to a market perform rating in a research report on Monday. BidaskClub downgraded shares of Primo Water from a buy rating to a hold rating in a research report on Friday, January 3rd. ValuEngine upgraded shares of Primo Water from a hold rating to a buy rating in a research report on Tuesday, December 24th. Imperial Capital restated an outperform rating and set a $14.00 price objective (down previously from $15.00) on shares of Primo Water in a research report on Wednesday, December 4th. Finally, Barrington Research reiterated a buy rating and issued a $15.00 price target on shares of Primo Water in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $14.83.
NASDAQ:PRMW opened at $13.91 on Monday. The company’s 50 day moving average price is $10.87 and its 200-day moving average price is $11.99. Primo Water has a 52 week low of $9.54 and a 52 week high of $16.35. The company has a quick ratio of 0.70, a current ratio of 0.92 and a debt-to-equity ratio of 1.96. The stock has a market cap of $435.12 million, a price-to-earnings ratio of 40.91, a PEG ratio of 3.66 and a beta of 0.72.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in shares of Primo Water in the 1st quarter valued at $4,509,000. Wells Fargo & Company MN grew its holdings in shares of Primo Water by 7.2% during the second quarter. Wells Fargo & Company MN now owns 174,133 shares of the company’s stock worth $2,143,000 after buying an additional 11,733 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Primo Water during the second quarter worth $1,602,000. Bank of Montreal Can grew its holdings in shares of Primo Water by 26,645.5% during the second quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock worth $36,000 after buying an additional 2,931 shares in the last quarter. Finally, US Bancorp DE grew its holdings 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 worth $206,000 after buying an additional 1,237 shares in the last quarter. Institutional investors and hedge funds own 85.68% of the company’s stock.
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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