Primo Water (PRMW) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Primo Water (NASDAQ:PRMW) from a sell rating to a hold rating in a research report report published on Wednesday.

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Primo Water from a hold rating to a sell rating in a research note on Monday, April 2nd. Zacks Investment Research cut Primo Water from a hold rating to a sell rating in a research note on Friday, March 9th. Finally, B. Riley set a $18.00 target price on Primo Water and gave the company a buy rating in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Primo Water currently has an average rating of Hold and an average target price of $17.33.

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PRMW stock opened at $12.20 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 3.77. The firm has a market capitalization of $377.45, a price-to-earnings ratio of -43.57, a P/E/G ratio of 4.69 and a beta of -0.13. Primo Water has a 1 year low of $10.47 and a 1 year high of $13.86.

Institutional investors and hedge funds have recently modified their holdings of the company. North Fourth Asset Management LP acquired a new position in shares of Primo Water during the fourth quarter valued at $4,292,000. State Street Corp increased its holdings in shares of Primo Water by 11.6% during the second quarter. State Street Corp now owns 386,038 shares of the company’s stock valued at $4,906,000 after purchasing an additional 40,107 shares during the period. Legion Partners Asset Management LLC acquired a new position in shares of Primo Water during the fourth quarter valued at $7,576,000. Argent Capital Management LLC increased its holdings in shares of Primo Water by 25.6% during the third quarter. Argent Capital Management LLC now owns 161,300 shares of the company’s stock valued at $1,911,000 after purchasing an additional 32,875 shares during the period. Finally, B. Riley Financial Inc. increased its holdings in shares of Primo Water by 25.5% during the third quarter. B. Riley Financial Inc. now owns 105,920 shares of the company’s stock valued at $1,234,000 after purchasing an additional 21,545 shares during the period. 70.12% of the stock is currently owned by institutional investors.

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About Primo Water

Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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