Primo Water Co. (NYSE:PRMW) Receives $22.50 Consensus Price Target from Analysts

Shares of Primo Water Co. (NYSE:PRMW) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $22.50.

PRMW has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Raymond James cut Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Finally, Royal Bank of Canada boosted their price target on shares of Primo Water from $19.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, May 20th.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $22.65 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average price of $19.20 and a 200 day moving average price of $16.54. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.74 and a beta of 1.09. Primo Water has a twelve month low of $12.27 and a twelve month high of $23.11.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a return on equity of 9.36% and a net margin of 12.22%. The company had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. Research analysts predict that Primo Water will post 0.82 earnings per share for the current year.

Primo Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.59%. Primo Water’s payout ratio is 22.36%.

Institutional Investors Weigh In On Primo Water

Hedge funds have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new stake in Primo Water during the 1st quarter worth approximately $27,000. Signaturefd LLC lifted its holdings in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after buying an additional 1,848 shares in the last quarter. CWM LLC grew its stake in shares of Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Primo Water in the first quarter valued at about $66,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Primo Water in the 3rd quarter worth about $102,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Primo Water

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.