Shares of Primo Water Corp. (NASDAQ:PRMW) saw an uptick in trading volume on Tuesday after Barrington Research raised their price target on the stock from $13.00 to $15.00. Barrington Research currently has an outperform rating on the stock. 172,497 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 160,253 shares.The stock last traded at $13.25 and had previously closed at $13.41.
Several other equities research analysts have also recently commented on the company. B. Riley boosted their price target on Primo Water Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Primo Water Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $13.75.
A number of large investors have recently bought and sold shares of PRMW. Algert Global LLC raised its stake in Primo Water Corp. by 66.5% in the third quarter. Algert Global LLC now owns 90,047 shares of the company’s stock valued at $1,092,000 after buying an additional 35,949 shares during the period. Schwab Charles Investment Management Inc. bought a new stake in Primo Water Corp. during the second quarter valued at $409,000. Metropolitan Life Insurance Co. NY bought a new stake in Primo Water Corp. during the second quarter valued at $192,000. Numeric Investors LLC bought a new stake in Primo Water Corp. during the second quarter valued at $531,000. Finally, National Asset Management Inc. raised its stake 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 valued at $136,000 after buying an additional 11,381 shares during the period. Hedge funds and other institutional investors own 64.59% of the company’s stock.
The firm has a 50 day moving average of $11.92 and a 200-day moving average of $11.44. The company has a market capitalization of $357.91 million, a PE ratio of 84.88 and a beta of 0.04.
Primo Water Corp. (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The company had revenue of $34.40 million for the quarter, compared to analyst estimates of $33.86 million. Primo Water Corp. had a return on equity of 22.31% and a net margin of 3.53%. Primo Water Corp.’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts predict that Primo Water Corp. will post $0.24 earnings per share for the current year.
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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