Primo Water (NYSE:PRMW) Lowered to “Hold” at StockNews.com

Primo Water (NYSE:PRMW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. TD Securities cut their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price on the stock. in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Primo Water currently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Primo Water Stock Performance

Primo Water stock opened at $18.95 on Friday. The firm’s fifty day moving average price is $17.38 and its 200-day moving average price is $15.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03. The stock has a market cap of $3.05 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $19.01.

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

Institutional Investors Weigh In On Primo Water

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Primo Water in the third quarter worth about $841,000. Raymond James & Associates boosted its position in shares of Primo Water by 303.5% during the third quarter. Raymond James & Associates now owns 806,004 shares of the company’s stock worth $11,123,000 after acquiring an additional 606,256 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Primo Water by 115.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 261,140 shares of the company’s stock worth $3,604,000 after acquiring an additional 140,058 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Primo Water by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,437 shares of the company’s stock worth $475,000 after acquiring an additional 4,754 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Primo Water by 0.7% during the third quarter. Mackenzie Financial Corp now owns 261,154 shares of the company’s stock valued at $3,503,000 after purchasing an additional 1,819 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

About Primo Water

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.