Primo Water Co. (NYSE:PRMW) Receives $20.75 Average PT from Brokerages

Primo Water Co. (NYSE:PRMW) has been assigned an average rating of “Buy” from the four ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.75.

Several brokerages have recently weighed in on PRMW. TD Securities reduced their price target on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 11th. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. lifted their price objective on Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a report on Wednesday, April 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its position in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the last quarter. CWM LLC lifted 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 purchasing an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in Primo Water in the 3rd quarter worth approximately $102,000. Aigen Investment Management LP purchased a new position in Primo Water in the 3rd quarter worth approximately $139,000. Finally, Blueshift Asset Management LLC purchased a new position in Primo Water in the 3rd quarter worth approximately $159,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $18.87 on Friday. Primo Water has a 1-year low of $12.27 and a 1-year high of $19.01. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The business has a fifty day moving average price of $17.53 and a 200-day moving average price of $15.62. The company has a market capitalization of $3.03 billion, a PE ratio of 12.66, a PEG ratio of 1.78 and a beta of 1.12.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. As a group, equities analysts expect that Primo Water will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.91%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is presently 24.16%.

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.