Several other equities analysts have also recently commented on PRMW. TheStreet raised shares of Primo Water from a c+ rating to a b- rating in a research report on Monday, December 4th. JPMorgan Chase & Co. cut their price target on Primo Water from $20.00 to $18.00 and set an overweight rating on the stock in a report on Tuesday, October 31st. CIBC raised Primo Water from a neutral rating to an outperform rating and boosted their price objective for the stock from $17.50 to $20.00 in a research report on Friday, November 3rd. Finally, TD Securities reduced their target price on shares of Primo Water from $26.00 to $23.00 and set a buy rating on the stock in a report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $19.25.
Primo Water Stock Up 2.3 %
Institutional Investors Weigh In On Primo Water
Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Primo Water during the third quarter worth about $33,135,000. BlackRock Inc. boosted its position in shares of Primo Water by 24.7% in the 3rd quarter. BlackRock Inc. now owns 11,600,023 shares of the company’s stock valued at $145,580,000 after purchasing an additional 2,296,515 shares during the period. Norges Bank purchased a new position in Primo Water during the 4th quarter worth approximately $22,126,000. Intrinsic Edge Capital Management LLC increased its position in Primo Water by 475.4% during the second quarter. Intrinsic Edge Capital Management LLC now owns 1,578,758 shares of the company’s stock worth $19,798,000 after buying an additional 1,304,400 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Primo Water by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 11,581,085 shares of the company’s stock valued at $165,030,000 after buying an additional 1,031,066 shares during the last quarter. Hedge funds and other institutional investors own 83.87% 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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.
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