Primo Water (NYSE:PRMW) Receives New Coverage from Analysts at William Blair

William Blair assumed coverage on shares of Primo Water (NYSE:PRMW) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Performance

Shares of PRMW stock opened at $27.51 on Thursday. 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 firm has a fifty day simple moving average of $24.43 and a two-hundred day simple moving average of $22.19. Primo Water has a 12 month low of $12.92 and a 12 month high of $28.06. The firm has a market capitalization of $4.42 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $477.40 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.82 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

Institutional Trading of Primo Water

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Primo Water by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock valued at $183,003,000 after acquiring an additional 248,774 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Primo Water by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock valued at $67,439,000 after purchasing an additional 100,702 shares during the period. Tobam increased its position in Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after buying an additional 705 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Primo Water in the first quarter valued at $874,000. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of Primo Water by 13.5% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 127,000 shares of the company’s stock valued at $2,313,000 after buying an additional 15,100 shares during the last quarter. Hedge funds and other 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.