Primo Water (NYSE:PRMW) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts have also weighed in on the company. Raymond James lowered Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price objective on the stock. in a report on Wednesday, April 3rd. TD Securities dropped their price objective on shares of Primo Water from $26.00 to $23.00 and set a buy rating for the company in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Primo Water from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $20.75.

Primo Water Trading Up 0.1 %

Shares of NYSE:PRMW opened at $18.97 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 12.73, a PEG ratio of 1.78 and a beta of 1.12. Primo Water has a 12-month low of $12.27 and a 12-month high of $19.01. The business has a 50 day moving average of $17.45 and a two-hundred day moving average of $15.58. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The business had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, analysts forecast that Primo Water will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio (DPR) is 24.16%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Signaturefd LLC lifted its stake in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after buying an additional 1,848 shares during the last quarter. CWM LLC increased its holdings in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in Primo Water in the 3rd quarter valued at $102,000. Aigen Investment Management LP acquired a new stake in Primo Water during the 3rd quarter worth $139,000. Finally, Blueshift Asset Management LLC purchased a new position in Primo Water during the 3rd quarter worth $159,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.