JPMorgan Chase & Co. Raises Primo Water (NYSE:PRMW) Price Target to $21.00

Primo Water (NYSE:PRMW) had its price objective boosted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on PRMW. StockNews.com lowered shares of Primo Water from a buy rating to a hold rating in a research note on Saturday, April 27th. Raymond James cut Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Finally, TD Securities decreased their price objective on Primo Water from $26.00 to $23.00 and set a buy rating for the company in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $21.25.

Primo Water Stock Up 1.2 %

Shares of NYSE PRMW opened at $19.89 on Thursday. The business has a 50-day moving average price of $17.78 and a 200 day moving average price of $15.72. The stock has a market cap of $3.20 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. Primo Water has a 52-week low of $12.27 and a 52-week high of $19.93.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data 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). The firm had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Equities research analysts forecast that Primo Water will post 0.82 earnings per share for the current 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 dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. This is an increase from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. Primo Water’s payout ratio is presently 24.16%.

Institutional Trading of Primo Water

Several institutional investors and hedge funds have recently modified their holdings of PRMW. CWM LLC raised its holdings in shares of Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares during the last quarter. Tobam grew its position in shares of Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock valued at $306,000 after purchasing an additional 705 shares during the period. Natixis Advisors L.P. increased its stake in Primo Water by 6.2% in the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock valued at $354,000 after purchasing an additional 1,368 shares during the last quarter. Lazard Asset Management LLC lifted its position in Primo Water by 6.0% during the third quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock worth $394,000 after buying an additional 1,612 shares during the period. Finally, Diversified Trust Co boosted its stake in Primo Water by 4.6% in the 4th quarter. Diversified Trust Co now owns 36,819 shares of the company’s stock worth $554,000 after buying an additional 1,631 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.