Primo Water (NYSE:PRMW) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a research note released on Tuesday.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an outperform rating and issued a $30.00 price target on shares of Primo Water in a research report on Tuesday, June 18th. TD Securities lifted their price target on Primo Water from $30.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, June 18th. CIBC lifted their price target on Primo Water from $24.00 to $26.00 and gave the stock an outperformer rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on Primo Water from $24.00 to $26.00 and gave the stock an overweight rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Primo Water has a consensus rating of Moderate Buy and a consensus price target of $25.83.

Primo Water Price Performance

Shares of Primo Water stock opened at $24.26 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $22.59 and its two-hundred day moving average price is $21.04. Primo Water has a 52 week low of $12.92 and a 52 week high of $25.60. The stock has a market cap of $3.89 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the previous year, the business earned $0.22 earnings per share. Primo Water’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 annualized dividend and a yield of 1.48%. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Hedge Funds Weigh In On Primo Water

Several institutional investors and hedge funds have recently bought and sold shares of PRMW. Cedar Wealth Management LLC purchased a new position in Primo Water during the 1st quarter valued at about $27,000. CWM LLC grew its stake in shares of Primo Water by 36.0% in 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 in the last quarter. Crewe Advisors LLC bought a new stake in shares of Primo Water in the 1st quarter valued at approximately $66,000. Clearstead Trust LLC bought a new stake in shares of Primo Water in the 2nd quarter valued at approximately $109,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Primo Water in the 2nd quarter valued at approximately $151,000. Hedge funds and other institutional investors 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.