Primo Water (NYSE:PRMW) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Primo Water (NYSE:PRMW) from a hold rating to a buy rating in a research note released on Thursday morning.

PRMW has been the topic of several other research reports. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair started coverage on shares of Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $24.21 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a 1-year low of $14.06 and a 1-year high of $28.06. The company has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The firm’s 50 day simple moving average is $25.47 and its two-hundred day simple moving average is $23.03.

Primo Water Announces Dividend

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

Institutional Investors Weigh In On Primo Water

Large investors have recently bought and sold shares of the business. Tocqueville Asset Management L.P. increased its position in Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock worth $1,748,000 after purchasing an additional 50,000 shares during the last quarter. Jane Street Group LLC increased its position in Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Strategic Wealth Partners Ltd. bought a new position in Primo Water during the first quarter valued at $879,000. Intact Investment Management Inc. increased its position in Primo Water by 43.6% during the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after acquiring an additional 419,370 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Primo Water by 471.2% during the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after acquiring an additional 54,569 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

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.