Primo Water (PRMW) Upgraded by BidaskClub to “Hold”

Primo Water (NASDAQ:PRMW) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Friday, November 10th. B. Riley restated a “buy” rating and issued a $17.50 target price on shares of Primo Water in a research note on Wednesday, November 8th. Barrington Research raised their target price on shares of Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, ValuEngine cut shares of Primo Water from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Primo Water presently has an average rating of “Hold” and an average target price of $17.10.

Primo Water (PRMW) traded down $0.15 during mid-day trading on Tuesday, hitting $12.95. 318,597 shares of the stock traded hands, compared to its average volume of 293,590. Primo Water has a one year low of $10.47 and a one year high of $15.39. The firm has a market cap of $393.27, a PE ratio of -18.77, a PEG ratio of 4.14 and a beta of -0.31. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82.

Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 7th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.04. Primo Water had a negative net margin of 8.17% and a negative return on equity of 32.85%. equities research analysts forecast that Primo Water will post -0.26 earnings per share for the current year.

In related news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $12.35, for a total value of $721,030.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $13.45, for a total transaction of $83,390.00. Following the completion of the sale, the chief financial officer now owns 236,113 shares of the company’s stock, valued at approximately $3,175,719.85. The disclosure for this sale can be found here. Insiders sold 130,295 shares of company stock valued at $1,636,440 in the last quarter. Company insiders own 15.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Primo Water by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,045,252 shares of the company’s stock valued at $13,275,000 after purchasing an additional 44,864 shares during the period. Elk Creek Partners LLC increased its holdings in Primo Water by 22.8% during the 3rd quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock valued at $9,025,000 after acquiring an additional 141,586 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in Primo Water by 10.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 493,996 shares of the company’s stock valued at $5,641,000 after acquiring an additional 46,804 shares in the last quarter. State Street Corp increased its holdings in Primo Water by 11.6% during the 2nd quarter. State Street Corp now owns 386,038 shares of the company’s stock valued at $4,906,000 after acquiring an additional 40,107 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Primo Water by 5.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 343,444 shares of the company’s stock valued at $4,070,000 after acquiring an additional 17,429 shares in the last quarter. Hedge funds and other institutional investors own 68.61% of the company’s stock.

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Primo Water 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).

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