Zacks Investment Research upgraded shares of Primo Water Corporation (NASDAQ:PRMW) from a sell rating to a hold rating in a report issued on Wednesday.

According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “

Several other equities research analysts also recently commented on PRMW. BidaskClub raised shares of Primo Water Corporation from a sell rating to a hold rating in a report on Sunday, July 16th. ValuEngine downgraded shares of Primo Water Corporation from a hold rating to a sell rating in a report on Tuesday, August 1st. Finally, B. Riley reaffirmed a buy rating and set a $17.50 price objective on shares of Primo Water Corporation in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $17.38.

Primo Water Corporation (NASDAQ:PRMW) traded down 1.86% during trading on Wednesday, reaching $10.57. 349,507 shares of the company were exchanged. The firm’s 50 day moving average price is $11.46 and its 200-day moving average price is $12.24. Primo Water Corporation has a one year low of $10.54 and a one year high of $15.39. The stock’s market capitalization is $315.70 million.

Primo Water Corporation (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.09). The business had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. Primo Water Corporation’s revenue for the quarter was up 117.4% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities research analysts predict that Primo Water Corporation will post ($0.31) earnings per share for the current year.

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In other news, Director Malcolm Mcquilkin sold 11,082 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $11.86, for a total transaction of $131,432.52. Following the sale, the director now directly owns 126,042 shares in the company, valued at $1,494,858.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Billy D. Prim sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $12.16, for a total value of $12,160,000.00. Following the sale, the insider now owns 1,980,927 shares in the company, valued at $24,088,072.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,040,858 shares of company stock worth $12,639,169. Company insiders own 15.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PRMW. US Bancorp DE increased its position in shares of Primo Water Corporation by 110.3% in the first quarter. US Bancorp DE now owns 9,884 shares of the company’s stock worth $135,000 after purchasing an additional 5,184 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Primo Water Corporation in the first quarter worth approximately $147,000. Citadel Advisors LLC bought a new position in shares of Primo Water Corporation in the first quarter worth approximately $156,000. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Primo Water Corporation in the second quarter worth approximately $159,000. Hedge funds and other institutional investors own 63.05% of the company’s stock.

About Primo Water Corporation

Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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