Northland Securities set a $17.00 price objective on Primo Water (NASDAQ:PRMW) in a report issued on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets set a $19.00 price target on Primo Water and gave the stock a buy rating in a research report on Wednesday, July 31st. ValuEngine upgraded Primo Water from a hold rating to a buy rating in a research report on Thursday, September 5th. B. Riley reiterated a buy rating and set a $18.00 target price on shares of Primo Water in a research report on Friday, September 6th. BidaskClub upgraded Primo Water from a hold rating to a buy rating in a research report on Friday, September 6th. Finally, Zacks Investment Research upgraded Primo Water from a sell rating to a hold rating in a research report on Saturday, September 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $17.40.

PRMW traded down $0.16 during midday trading on Tuesday, reaching $13.00. The company had a trading volume of 230,100 shares, compared to its average volume of 226,178. The company has a quick ratio of 0.71, a current ratio of 0.99 and a debt-to-equity ratio of 2.05. The business has a 50-day moving average of $12.81 and a two-hundred day moving average of $13.54. The company has a market cap of $505.13 million, a P/E ratio of 38.24, a P/E/G ratio of 4.08 and a beta of 0.80. Primo Water has a 1 year low of $10.70 and a 1 year high of $20.26.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $78.01 million. Primo Water had a positive return on equity of 11.75% and a negative net margin of 18.85%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. On average, equities research analysts predict that Primo Water will post 0.25 EPS for the current year.

In other Primo Water news, Director Susan E. Cates bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $12.23 per share, for a total transaction of $61,150.00. Following the completion of the transaction, the director now owns 28,968 shares of the company’s stock, valued at approximately $354,278.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 6,459 shares of company stock valued at $77,820 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new stake in shares of Primo Water during the second quarter worth about $28,000. Aperio Group LLC purchased a new position in Primo Water during the 2nd quarter valued at approximately $35,000. Bank of Montreal Can grew its holdings in Primo Water by 26,645.5% during the 2nd quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after buying an additional 2,931 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Primo Water by 77,911.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,021 shares of the company’s stock valued at $109,000 after buying an additional 7,012 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Primo Water by 8.0% during the 2nd quarter. US Bancorp DE now owns 16,751 shares of the company’s stock valued at $206,000 after buying an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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