Primo Water Co. (NYSE:PRMW) Receives Average Recommendation of “Buy” from Brokerages

Primo Water Co. (NYSE:PRMW) has been given a consensus recommendation of “Buy” by the four analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $20.75.

Several equities analysts have recently issued reports on PRMW shares. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target for the company. in a research report on Wednesday, April 3rd. TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. increased their target price on Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th.

Primo Water Trading Up 0.5 %

NYSE:PRMW opened at $18.95 on Friday. Primo Water has a one year low of $12.27 and a one year high of $19.01. The company’s 50-day simple moving average is $17.38 and its 200 day simple moving average is $15.53. The firm has a market capitalization of $3.05 billion, a P/E ratio of 12.72, a PEG ratio of 1.77 and a beta of 1.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share 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 return on equity of 8.55% and a net margin of 10.82%. As a group, analysts forecast that Primo Water will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.90%. Primo Water’s payout ratio is currently 24.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Primo Water by 6.2% in the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock worth $354,000 after acquiring an additional 1,368 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Primo Water by 6.0% in the third quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock worth $394,000 after acquiring an additional 1,612 shares during the period. Diversified Trust Co increased its position in Primo Water by 4.6% during the fourth quarter. Diversified Trust Co now owns 36,819 shares of the company’s stock valued at $554,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Primo Water by 0.7% in the third quarter. Mackenzie Financial Corp now owns 261,154 shares of the company’s stock valued at $3,503,000 after acquiring an additional 1,819 shares during the period. 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.