Primo Water Co. (NYSE:PRMW) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Primo Water Co. (NYSE:PRMW) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.83.

PRMW has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. William Blair initiated coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating for the company. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd.

Primo Water Stock Performance

NYSE:PRMW opened at $24.21 on Thursday. The stock has a fifty day moving average price of $25.40 and a 200-day moving average price of $22.94. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06.

Primo Water Dividend Announcement

The company also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s payout ratio is presently 22.36%.

Hedge Funds Weigh In On Primo Water

A number of institutional investors and hedge funds have recently bought and sold shares of PRMW. ProShare Advisors LLC increased its holdings in Primo Water by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock worth $512,000 after purchasing an additional 2,215 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after buying an additional 50,000 shares during the period. Forge First Asset Management Inc. acquired a new stake in shares of Primo Water in the first quarter valued at about $6,792,000. Acadian Asset Management LLC increased its stake in shares of Primo Water by 153,637.0% in the first quarter. Acadian Asset Management LLC now owns 83,018 shares of the company’s stock valued at $1,509,000 after buying an additional 82,964 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Primo Water by 1.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 148,209 shares of the company’s stock valued at $2,699,000 after buying an additional 2,794 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.