Primo Water Co. (NYSE:PRMW) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Primo Water Co. (NYSE:PRMW) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.83.

Several research firms have commented on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Finally, Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On Primo Water

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Primo Water by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock valued at $183,003,000 after purchasing an additional 248,774 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Primo Water by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock worth $96,647,000 after buying an additional 32,875 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Primo Water by 13.0% during the fourth quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock valued at $40,844,000 after buying an additional 312,815 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Primo Water by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock valued at $34,868,000 after acquiring an additional 49,500 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Primo Water by 27.3% in the second quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock worth $30,623,000 after acquiring an additional 300,929 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Water Stock Performance

Primo Water stock opened at $27.67 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a twelve month low of $12.92 and a twelve month high of $27.81. The company’s 50-day moving average price is $23.96 and its 200-day moving average price is $21.95. The company has a market cap of $4.45 billion, a PE ratio of 17.19, 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. The business had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. On average, equities research analysts forecast that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

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

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.