PRMW has been the subject of several other research reports. Zacks Investment Research cut shares of Primo Water Corp. from a strong-buy rating to a hold rating in a research note on Wednesday, July 6th. B. Riley boosted their price objective on shares of Primo Water Corp. from $13.00 to $15.00 and gave the company a buy rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Primo Water Corp. presently has an average rating of Buy and a consensus price target of $13.75.
Shares of Primo Water Corp. (NASDAQ:PRMW) traded down 0.31% on Tuesday, reaching $12.97. 57,488 shares of the company were exchanged. The company’s 50 day moving average is $11.87 and its 200 day moving average is $11.43. Primo Water Corp. has a 12-month low of $7.39 and a 12-month high of $13.67. The firm has a market capitalization of $337.61 million, a PE ratio of 80.06 and a beta of 0.04.
Primo Water Corp. (NASDAQ:PRMW) last posted its earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The firm earned $34.40 million during the quarter, compared to the consensus estimate of $33.86 million. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. Analysts forecast that Primo Water Corp. will post $0.24 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in Primo Water Corp. during the second quarter worth approximately $103,000. Alpine Partners VI LLC bought a new position in Primo Water Corp. during the first quarter worth approximately $106,000. Highbridge Capital Management LLC bought a new position in Primo Water Corp. during the second quarter worth approximately $118,000. Cubist Systematic Strategies LLC bought a new position in Primo Water Corp. during the second quarter worth approximately $120,000. Finally, National Asset Management Inc. boosted its position in Primo Water Corp. by 100.8% in the second quarter. National Asset Management Inc. now owns 22,670 shares of the company’s stock worth $136,000 after buying an additional 11,381 shares in the last quarter. 64.59% of the stock is owned by institutional investors and hedge funds.
About Primo Water Corp.
Primo Water Corporation is a provider of 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. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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