Analysts Set Primo Water Co. (NYSE:PRMW) Target Price at $25.83

Primo Water Co. (NYSE:PRMW) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.83.

PRMW has been the subject of several research reports. TD Securities boosted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. CIBC lifted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Monday.

Hedge Funds Weigh In On Primo Water

Several institutional investors and hedge funds have recently bought and sold shares of PRMW. Cedar Wealth Management LLC purchased a new stake in Primo Water in the first quarter worth about $27,000. CWM LLC grew its stake in shares of Primo Water by 36.0% during 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. Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter valued at approximately $66,000. Clearstead Trust LLC purchased a new stake in Primo Water in the 2nd quarter worth approximately $109,000. Finally, Daiwa Securities Group Inc. bought a new stake in Primo Water during the 2nd quarter worth approximately $151,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Water Price Performance

Shares of NYSE PRMW opened at $24.94 on Wednesday. The company has a 50 day moving average of $22.85 and a 200 day moving average of $21.26. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a twelve month low of $12.92 and a twelve month high of $25.67. The firm has a market cap of $4.01 billion, a P/E ratio of 15.49, a PEG ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Primo Water will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.44%. Primo Water’s dividend payout ratio (DPR) is 22.36%.

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.