ValuEngine Lowers Primo Water Corporation (NASDAQ:PRMW) to Sell

ValuEngine lowered shares of Primo Water Corporation (NASDAQ:PRMW) from a hold rating to a sell rating in a research report released on Tuesday, August 1st.

Several other brokerages have also recently commented on PRMW. BMO Capital Markets reiterated a market perform rating and set a $15.00 price target on shares of Primo Water Corporation in a research report on Monday, April 3rd. B. Riley reiterated a buy rating and set a $17.50 price target on shares of Primo Water Corporation in a research report on Monday, May 8th. Barrington Research boosted their price target on Primo Water Corporation from $16.50 to $17.00 and gave the stock an outperform rating in a research report on Wednesday, May 10th. Zacks Investment Research lowered Primo Water Corporation from a hold rating to a strong sell rating in a research note on Thursday, May 11th. Finally, BidaskClub raised Primo Water Corporation from a sell rating to a hold rating in a research note on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $17.10.

Primo Water Corporation (PRMW) opened at 12.88 on Tuesday. Primo Water Corporation has a 52 week low of $10.74 and a 52 week high of $15.39. The company’s 50-day moving average is $12.64 and its 200 day moving average is $13.04. The company’s market capitalization is $384.39 million.

Primo Water Corporation (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.09. The business had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. The firm’s quarterly revenue was up 117.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. On average, analysts forecast that Primo Water Corporation will post ($0.31) EPS for the current fiscal year.

WARNING: “[[title]]” was originally reported by [[site]] and is owned by of [[site]]. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at [[permalink]].

In related news, insider Camden Partners Strategic Fund sold 7,985 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $13.50, for a total transaction of $107,797.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRMW. US Bancorp DE increased its position in Primo Water Corporation by 110.3% in the first quarter. US Bancorp DE now owns 9,884 shares of the company’s stock worth $135,000 after buying an additional 5,184 shares during the last quarter. HighTower Advisors LLC increased its position in Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC acquired a new position in Primo Water Corporation during the first quarter worth approximately $147,000. Highbridge Capital Management LLC acquired a new position in Primo Water Corporation during the fourth quarter worth approximately $149,000. Finally, Citadel Advisors LLC acquired a new position in Primo Water Corporation during the first quarter worth approximately $156,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

Primo Water Corporation Company Profile

Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

To view ValuEngine’s full report, visit ValuEngine’s official website.