Primo Water (NYSE:PRMW) Upgraded to Hold at Zacks Investment Research

Primo Water (NYSE:PRMWGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “Primo Water Corporation is a leading provider of sustainable drinking water solutions in North America and Europe. “

PRMW has been the subject of a number of other research reports. TD Securities lowered their price objective on shares of Primo Water from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Primo Water from $18.00 to $16.00 in a research report on Friday. Finally, Citigroup lowered their target price on Primo Water from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.80.

PRMW stock opened at $14.12 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 1.00. Primo Water has a twelve month low of $13.34 and a twelve month high of $20.12. The business’s fifty day moving average is $14.33 and its 200-day moving average is $16.05. The company has a market cap of $2.27 billion, a P/E ratio of -706.00 and a beta of 1.33.

Primo Water (NYSE:PRMWGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Primo Water had a negative net margin of 0.15% and a positive return on equity of 5.33%. The business had revenue of $526.10 million during the quarter, compared to analysts’ expectations of $516.19 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Primo Water will post 0.52 earnings per share for the current fiscal year.

In related news, CFO Jay Wells acquired 10,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was bought at an average price of $13.81 per share, for a total transaction of $138,100.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven P. Stanbrook bought 3,362 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The stock was purchased at an average price of $14.37 per share, with a total value of $48,311.94. The disclosure for this purchase can be found here. 5.90% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of PRMW. Ancora Advisors LLC acquired a new stake in Primo Water during the first quarter worth approximately $36,000. Connable Office Inc. acquired a new stake in Primo Water during the first quarter worth approximately $148,000. Bridgefront Capital LLC acquired a new stake in Primo Water during the first quarter worth approximately $177,000. Tudor Investment Corp Et Al acquired a new stake in Primo Water during the third quarter worth approximately $188,000. Finally, Brown Advisory Inc. acquired a new stake in Primo Water during the fourth quarter worth approximately $199,000. Institutional investors and hedge funds own 93.36% of the company’s stock.

About Primo Water (Get Rating)

Primo Water Corporation provides water direct to consumers and water filtration services in North America and Europe. It offers bottled water, purified bottled water, premium spring, sparkling and flavored water, mineral water, filtration equipment, and coffee; as well as water dispensers, and self-service refill drinking water.

Further Reading

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Analyst Recommendations for Primo Water (NYSE:PRMW)

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