Primo Water (NYSE:PRMW) Receives New Coverage from Analysts at William Blair

William Blair began coverage on shares of Primo Water (NYSE:PRMW) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

A number of other analysts also recently weighed in on the company. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Performance

Shares of PRMW stock opened at $27.51 on Thursday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.89 and a beta of 1.11. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $24.43 and its 200-day moving average price is $22.19. Primo Water has a 12 month low of $12.92 and a 12 month high of $28.06.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same quarter last year, the business earned $0.22 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Primo Water will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

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

Institutional Investors Weigh In On Primo Water

Several large investors have recently added to or reduced their stakes in PRMW. Cedar Wealth Management LLC acquired a new position in Primo Water in the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after acquiring an additional 981 shares in the last quarter. Blue Trust Inc. boosted its stake in Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after acquiring an additional 641 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Primo Water in the third quarter valued at $48,000. Finally, Crewe Advisors LLC acquired a new position in shares of Primo Water during the first quarter valued at about $66,000. Institutional investors and hedge funds 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.