Primo Water (NASDAQ:PRMW) Downgraded by Northland Securities to “Market Perform”

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.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). The company had revenue of $86.97 million for the quarter, compared to the consensus estimate of $84.78 million. Primo Water had a net margin of 1.29% and a return on equity of 7.11%. As a group, sell-side analysts anticipate that Primo Water will post 0.12 earnings per share for the current year.

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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The Fly

Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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