Primo Water Corp. (NASDAQ:PRMW) – Equities research analysts at Barrington Research lowered their Q3 2017 earnings per share (EPS) estimates for Primo Water Corp. in a report released on Tuesday. Barrington Research analyst M. Petusky now expects that the brokerage will post earnings per share of $0.05 for the quarter, down from their previous forecast of $0.12. Barrington Research has a “Outperform” rating and a $15.00 price target on the stock.
Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Primo Water Corp. had a return on equity of 22.31% and a net margin of 3.53%. The firm had revenue of $34.40 million for the quarter, compared to analysts’ expectations of $33.86 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year.
A number of other research analysts also recently commented on the stock. B. Riley increased their price target on shares of Primo Water Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, August 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $13.75.
Shares of Primo Water Corp. (NASDAQ:PRMW) traded up 5.61% during mid-day trading on Wednesday, hitting $13.74. The stock had a trading volume of 237,384 shares. The stock has a market cap of $357.65 million, a P/E ratio of 84.81 and a beta of 0.04. The company’s 50 day moving average is $11.87 and its 200-day moving average is $11.43. Primo Water Corp. has a 52-week low of $7.39 and a 52-week high of $13.79.
A number of hedge funds have recently bought and sold shares of PRMW. BlackRock Fund Advisors raised its position in shares of Primo Water Corp. by 1,040.8% in the second quarter. BlackRock Fund Advisors now owns 548,064 shares of the company’s stock worth $6,473,000 after buying an additional 500,020 shares during the period. State Street Corp raised its position in shares of Primo Water Corp. by 2,422.3% in the second quarter. State Street Corp now owns 305,203 shares of the company’s stock worth $3,603,000 after buying an additional 293,103 shares during the period. SG Capital Management LLC raised its position in shares of Primo Water Corp. by 347.9% in the second quarter. SG Capital Management LLC now owns 205,053 shares of the company’s stock worth $2,422,000 after buying an additional 159,272 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Primo Water Corp. by 12.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,259,798 shares of the company’s stock worth $14,878,000 after buying an additional 143,940 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Primo Water Corp. by 48.0% in the second quarter. Dimensional Fund Advisors LP now owns 360,127 shares of the company’s stock worth $4,253,000 after buying an additional 116,770 shares during the period. 64.59% of the stock is currently owned by institutional investors.
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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