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

Primo Water (NYSE:PRMW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other research analysts have also recently issued research reports about the company. Raymond James cut Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research note on Wednesday, April 3rd. TD Securities lowered their target price on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. raised their target price on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.25.

Primo Water Price Performance

Shares of Primo Water stock opened at $19.66 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.16 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The business’s 50-day moving average price is $17.61 and its 200-day moving average price is $15.65. Primo Water has a 12 month low of $12.27 and a 12 month high of $19.68.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Sell-side analysts forecast that Primo Water will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Primo Water

Several large investors have recently made changes to their positions in the business. Signaturefd LLC increased its position 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 boosted its stake in shares of 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 acquiring an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in Primo Water in the 3rd quarter valued at about $102,000. Aigen Investment Management LP purchased a new position in Primo Water in the 3rd quarter valued at about $139,000. Finally, Blueshift Asset Management LLC purchased a new position in Primo Water in the 3rd quarter valued at about $159,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.