Northland Securities set a $17.00 target price on Primo Water (NASDAQ:PRMW) in a research report released on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock.
Several other equities analysts have also recently issued reports on PRMW. Imperial Capital reduced their target price on Primo Water from $18.00 to $15.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets set a $19.00 target price on Primo Water and gave the company a buy rating in a research note on Wednesday, July 31st. B. Riley reissued a buy rating and set a $18.00 target price on shares of Primo Water in a research note on Friday, September 6th. ValuEngine raised Primo Water from a hold rating to a buy rating in a research note on Thursday, September 5th. Finally, BidaskClub raised Primo Water from a hold rating to a buy rating in a research note on Friday, September 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $17.40.
PRMW stock traded down $0.16 during midday trading on Tuesday, hitting $13.00. The company had a trading volume of 230,100 shares, compared to its average volume of 226,178. The company has a current ratio of 0.99, a quick ratio of 0.71 and a debt-to-equity ratio of 2.05. Primo Water has a 52 week low of $10.70 and a 52 week high of $20.26. The stock’s 50 day moving average price is $12.81 and its 200 day moving average price is $13.54. The stock has a market cap of $505.13 million, a price-to-earnings ratio of 38.24, a PEG ratio of 4.08 and a beta of 0.80.
In other news, Director Susan E. Cates purchased 5,000 shares of Primo Water stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $12.23 per share, with a total value of $61,150.00. Following the completion of the purchase, the director now directly owns 28,968 shares in the company, valued at $354,278.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 6,459 shares of company stock worth $77,820. 10.80% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC grew its stake in Primo Water by 24.9% in the first quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock worth $23,612,000 after purchasing an additional 304,083 shares during the period. First Trust Advisors LP bought a new stake in Primo Water in the first quarter worth $4,509,000. Heartland Advisors Inc. bought a new stake in Primo Water in the second quarter worth $6,683,000. White Pine Capital LLC boosted its holdings in Primo Water by 33.9% in the first quarter. White Pine Capital LLC now owns 186,010 shares of the company’s stock worth $2,876,000 after acquiring an additional 47,100 shares in the last quarter. Finally, Formula Growth Ltd. boosted its holdings in Primo Water by 50.0% in the first quarter. Formula Growth Ltd. now owns 120,000 shares of the company’s stock worth $1,855,000 after acquiring an additional 40,000 shares in the last quarter. 90.21% of the stock is currently owned by institutional investors.
Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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