Primo Water Co. (NYSE:PRMW) Given Average Rating of “Moderate Buy” by Brokerages

Primo Water Co. (NYSE:PRMW) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.50.

Several brokerages have recently issued reports on PRMW. Deutsche Bank Aktiengesellschaft raised their price target on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada increased their target price on shares of Primo Water from $19.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd.

Primo Water Trading Up 0.5 %

Primo Water stock opened at $22.24 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.71 and a beta of 1.09. Primo Water has a one year low of $12.27 and a one year high of $23.11. The company’s fifty day moving average price is $19.00 and its two-hundred day moving average price is $16.43.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. On average, analysts forecast that Primo Water will post 0.82 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, June 7th. Primo Water’s dividend payout ratio is 22.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Primo Water by 42.4% during the third quarter. Principal Financial Group Inc. now owns 45,796 shares of the company’s stock worth $632,000 after buying an additional 13,632 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Primo Water during the third quarter worth approximately $102,000. Assenagon Asset Management S.A. increased its holdings in shares of Primo Water by 44.8% during the third quarter. Assenagon Asset Management S.A. now owns 164,933 shares of the company’s stock worth $2,276,000 after buying an additional 51,027 shares in the last quarter. Heartland Advisors Inc. increased its holdings in shares of Primo Water by 6.5% during the third quarter. Heartland Advisors Inc. now owns 895,900 shares of the company’s stock worth $12,363,000 after buying an additional 54,675 shares in the last quarter. Finally, Landscape Capital Management L.L.C. increased its holdings in shares of Primo Water by 66.5% during the third quarter. Landscape Capital Management L.L.C. now owns 297,161 shares of the company’s stock worth $4,101,000 after buying an additional 118,642 shares in 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.