StockNews.com Downgrades Primo Water (NYSE:PRMW) to Hold

StockNews.com cut shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a report released on Saturday.

Several other analysts also recently weighed in on the stock. Raymond James downgraded shares of Primo Water from a strong-buy rating to an outperform rating and set a $21.00 target price for the company. in a report on Wednesday, April 3rd. TD Securities cut their price objective on Primo Water from $26.00 to $23.00 and set a buy rating on the stock in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. raised their target price on Primo Water from $18.00 to $19.00 and gave the company an overweight rating in a report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $20.75.

Primo Water Price Performance

NYSE:PRMW opened at $18.87 on Friday. Primo Water has a 52 week low of $12.27 and a 52 week high of $19.01. The stock’s fifty day moving average is $17.53 and its two-hundred day moving average is $15.62. The company has a market capitalization of $3.03 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). The company had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Equities analysts expect that Primo Water will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.09 dividend. This is an increase from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.91%. Primo Water’s payout ratio is 24.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRMW. Signaturefd LLC grew its stake in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares in the last quarter. CWM LLC lifted its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in shares of Primo Water during the 3rd quarter worth about $102,000. Aigen Investment Management LP purchased a new position in shares of Primo Water in the 3rd quarter valued at about $139,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Primo Water during the 3rd quarter worth about $159,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.