Northland Securities Reiterates “$17.00” Price Target for Primo Water (NASDAQ:PRMW)

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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.

Primo Water (NASDAQ:PRMW) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.75%. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $78.01 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Primo Water will post 0.25 earnings per share for the current year.

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.

See Also: When can a hold rating present a buying opportunity?

Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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