Primo Water Corp. (PRMW) Sees Unusually-High Trading Volume
Shares of Primo Water Corp. (NASDAQ:PRMW) saw unusually-high trading volume on Friday . Approximately 162,766 shares changed hands during trading, an increase of 38% from the previous session’s volume of 118,254 shares.The stock last traded at $11.34 and had previously closed at $11.30.
PRMW has been the topic of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and set a $13.00 target price on shares of Primo Water Corp. in a report on Friday, July 29th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Friday, July 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.50.
The stock has a market capitalization of $294.14 million, a PE ratio of 69.75 and a beta of 0.32. The stock has a 50 day moving average price of $11.89 and a 200 day moving average price of $11.04.
Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The firm had revenue of $34.40 million for the quarter, compared to the consensus estimate of $33.86 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Primo Water Corp. will post $0.24 EPS for the current year.
In other news, insider Camden Partners Strategic Fund sold 27,929 shares of Primo Water Corp. stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $10.46, for a total value of $292,137.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 18.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Primo Water Corp. during the second quarter worth about $103,000. Alpine Partners VI LLC purchased a new position in shares of Primo Water Corp. during the first quarter worth about $106,000. Highbridge Capital Management LLC purchased a new position in shares of Primo Water Corp. during the second quarter worth about $118,000. Cubist Systematic Strategies LLC purchased a new position in shares of Primo Water Corp. during the second quarter worth about $120,000. Finally, National Asset Management Inc. increased its position in shares of Primo Water Corp. by 100.8% in the second quarter. National Asset Management Inc. now owns 22,670 shares of the company’s stock worth $136,000 after buying an additional 11,381 shares during the last quarter. 65.13% of the stock is currently owned by hedge funds and other institutional investors.
Primo Water Corp. Company Profile
Primo Water Corporation is a provider of 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. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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