JPMorgan Chase & Co. Increases Primo Water (NYSE:PRMW) Price Target to $21.00

Primo Water (NYSE:PRMW) had its price target upped by JPMorgan Chase & Co. from $19.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.69% from the company’s current price.

A number of other research analysts also recently commented on PRMW. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a report on Wednesday, April 3rd. Finally, TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Primo Water Stock Up 2.6 %

Shares of PRMW stock traded up $0.50 during trading hours on Thursday, reaching $19.50. 274,330 shares of the stock were exchanged, compared to its average volume of 1,005,211. Primo Water has a 12-month low of $12.27 and a 12-month high of $19.54. The business’s fifty day moving average is $17.53 and its two-hundred day moving average is $15.62. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The firm has a market capitalization of $3.14 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.78 and a beta of 1.09.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The firm had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, research analysts expect that Primo Water will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Primo Water

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its position in Primo Water by 18.1% in the 4th quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after acquiring an additional 145,966 shares during the period. Ancora Advisors LLC raised its stake in shares of Primo Water by 2.0% during the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock worth $8,442,000 after purchasing an additional 11,920 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Primo Water by 761.6% during the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock worth $1,532,000 after purchasing an additional 98,144 shares during the period. William Blair Investment Management LLC grew its position in Primo Water by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after buying an additional 265,057 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Primo Water by 49.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock valued at $4,310,000 after buying an additional 103,103 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Primo Water

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.