Primo Water (NYSE:PRMW) Price Target Raised to $26.00

Primo Water (NYSE:PRMW) had its price target increased by JPMorgan Chase & Co. from $24.00 to $26.00 in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed an outperform rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday. StockNews.com raised Primo Water from a hold rating to a buy rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the stock a hold rating in a research report on Friday, May 10th. Finally, Raymond James downgraded Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $25.83.

Primo Water Stock Performance

Shares of PRMW stock opened at $22.17 on Tuesday. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The business has a fifty day moving average of $20.75 and a 200 day moving average of $17.53. Primo Water has a 1 year low of $12.27 and a 1 year high of $25.60.

Primo Water (NYSE:PRMW) last issued its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $452.00 million during the quarter, compared to analyst estimates of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. As a group, research analysts expect that Primo Water will post 0.89 earnings per share for the current year.

Primo Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, June 7th. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Institutional Investors Weigh In On Primo Water

Institutional investors have recently modified their holdings of the business. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water during the 1st quarter valued at about $27,000. Signaturefd LLC boosted its holdings in Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after buying an additional 1,848 shares during the last quarter. CWM LLC boosted its holdings in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Primo Water in the 1st quarter worth about $66,000. Finally, Aigen Investment Management LP acquired a new stake in Primo Water in the 3rd quarter worth about $139,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.