Primo Water (NASDAQ:PRMW) Stock Rating Reaffirmed by B. Riley

Share on StockTwits

Primo Water (NASDAQ:PRMW)‘s stock had its “neutral” rating reiterated by stock analysts at B. Riley in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $14.00 price objective on the stock. B. Riley’s target price indicates a potential downside of 3.85% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Lake Street Capital lowered Primo Water from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $18.00 to $14.00 in a research note on Wednesday, November 6th. Northland Securities lowered Primo Water from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $16.00 to $14.00 in a research note on Monday. BidaskClub lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Barrington Research reissued a “buy” rating and set a $15.00 price objective on shares of Primo Water in a research note on Wednesday, November 6th. Finally, William Blair lowered Primo Water from an “outperform” rating to a “market perform” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.17.

Shares of NASDAQ:PRMW traded up $0.12 during trading on Tuesday, reaching $14.56. The stock had a trading volume of 38,859 shares, compared to its average volume of 1,102,389. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.92. The business has a fifty day moving average price of $11.04 and a 200-day moving average price of $12.01. The stock has a market cap of $566.04 million, a PE ratio of 42.82, a PEG ratio of 4.67 and a beta of 0.72. Primo Water has a 1-year low of $9.54 and a 1-year high of $16.35.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). The firm had revenue of $86.97 million during the quarter, compared to analyst estimates of $84.78 million. Primo Water had a return on equity of 7.11% and a net margin of 1.29%. Sell-side analysts expect that Primo Water will post 0.12 earnings per share for the current year.

A number of large investors have recently bought and sold shares of PRMW. Russell Investments Group Ltd. raised its position in Primo Water by 228.6% in the third quarter. Russell Investments Group Ltd. now owns 428,050 shares of the company’s stock valued at $5,257,000 after purchasing an additional 297,766 shares during the period. First Trust Advisors LP purchased a new stake in Primo Water in the first quarter valued at $4,509,000. Victory Capital Management Inc. purchased a new stake in Primo Water in the second quarter valued at $2,830,000. Nuveen Asset Management LLC raised its position in Primo Water by 8.3% in the second quarter. Nuveen Asset Management LLC now owns 2,400,571 shares of the company’s stock valued at $29,527,000 after purchasing an additional 184,111 shares during the period. Finally, BlackRock Inc. raised its position in Primo Water by 5.1% in the second quarter. BlackRock Inc. now owns 2,396,335 shares of the company’s stock valued at $29,475,000 after purchasing an additional 117,124 shares during the period. Institutional investors own 85.68% of the company’s stock.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

See Also: Inverted Yield Curve

Analyst Recommendations for Primo Water (NASDAQ:PRMW)

Receive News & Ratings for Primo Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water and related companies with MarketBeat.com's FREE daily email newsletter.