Primo Water (NYSE:PRMW) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other research analysts have also recently commented on PRMW. Royal Bank of Canada reiterated an outperform rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on Primo Water from $24.00 to $26.00 and gave the stock an overweight rating in a report on Tuesday, June 18th. TD Securities boosted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a buy rating in a report on Tuesday, June 18th. Finally, CIBC increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an outperformer rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $25.83.

Primo Water Price Performance

Primo Water stock opened at $25.28 on Wednesday. The company has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $20.80. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.73 and a beta of 1.10. 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 52-week low of $12.92 and a 52-week high of $25.60.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results 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 return on equity of 8.94% and a net margin of 12.61%. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same period in the prior year, the business earned $0.22 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Primo Water will post 0.87 EPS for the current fiscal year.

Primo Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.42%. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water during the first quarter worth about $27,000. CWM LLC lifted its stake in Primo Water by 36.0% in 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 during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Primo Water in the first quarter valued at approximately $66,000. Clearstead Trust LLC purchased a new position in shares of Primo Water during the second quarter worth approximately $109,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Primo Water in the 2nd quarter valued at $151,000. 87.71% of the stock is owned by institutional investors and hedge funds.

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.