Zacks Investment Research upgraded shares of Primo Water Corporation (NASDAQ:PRMW) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $14.00 target price on the stock.

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 analysts also recently commented on the stock. BidaskClub raised shares of Primo Water Corporation from a sell rating to a hold rating in a research note on Sunday, July 16th. B. Riley reiterated a buy rating and set a $17.50 price target on shares of Primo Water Corporation in a research report on Wednesday. ValuEngine cut shares of Primo Water Corporation from a hold rating to a sell rating in a research report on Monday, October 2nd. Finally, Barrington Research boosted their price target on shares of Primo Water Corporation from $17.00 to $19.00 and gave the company an outperform rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Primo Water Corporation has an average rating of Hold and an average price target of $17.10.

Shares of Primo Water Corporation (PRMW) traded up $0.04 during trading hours on Friday, hitting $12.59. 154,300 shares of the stock traded hands, compared to its average volume of 208,702. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. Primo Water Corporation has a 52-week low of $10.47 and a 52-week high of $15.39.

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In related news, insider Billy D. Prim sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the transaction, the insider now owns 1,980,927 shares in the company, valued at $24,088,072.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Malcolm Mcquilkin sold 13,714 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $11.70, for a total transaction of $160,453.80. Following the transaction, the director now owns 101,246 shares in the company, valued at approximately $1,184,578.20. The disclosure for this sale can be found here. Insiders have sold 1,040,858 shares of company stock worth $12,639,169 in the last quarter. 15.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC grew its holdings in 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 period. California State Teachers Retirement System grew its holdings in Primo Water Corporation by 1.8% in the second quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock worth $570,000 after purchasing an additional 800 shares during the period. American International Group Inc. grew its holdings in Primo Water Corporation by 7.5% in the first quarter. American International Group Inc. now owns 13,052 shares of the company’s stock worth $177,000 after purchasing an additional 910 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Primo Water Corporation by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 129,086 shares of the company’s stock worth $1,639,000 after purchasing an additional 1,620 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Primo Water Corporation by 16.5% in the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after purchasing an additional 2,028 shares during the period. Institutional investors and hedge funds own 62.77% 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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