Brokerages Set Primo Water Co. (NYSE:PRMW) PT at $25.83

Shares of Primo Water Co. (NYSE:PRMW) have earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.83.

Several research firms have recently commented on PRMW. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, June 18th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target for the company. in a research report on Wednesday, April 3rd. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, TD Securities upped their price objective on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th.

Institutional Investors Weigh In On Primo Water

A number of institutional investors and hedge funds have recently bought and sold shares of PRMW. Cedar Wealth Management LLC purchased a new stake in Primo Water during the first quarter valued at about $27,000. Signaturefd LLC lifted its stake in Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after buying an additional 1,848 shares in the last quarter. CWM LLC lifted its stake in Primo Water by 36.0% during the first 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 purchased a new stake in Primo Water during the first quarter valued at about $66,000. Finally, Raymond James Trust N.A. lifted its stake in Primo Water by 32.5% during the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock valued at $231,000 after buying an additional 3,759 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Water Stock Down 1.7 %

PRMW stock opened at $20.81 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. Primo Water has a 1-year low of $12.72 and a 1-year high of $25.60. The firm has a fifty day moving average price of $21.83 and a two-hundred day moving average price of $18.34. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.52 and a beta of 1.10.

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

Primo Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, June 7th. Primo Water’s payout ratio is 22.36%.

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.