Primo Water (PRMW) Lowered to Sell at BidaskClub
BidaskClub downgraded shares of Primo Water (NASDAQ:PRMW) from a hold rating to a sell rating in a report published on Wednesday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Primo Water from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Friday, November 10th. B. Riley reaffirmed a buy rating and set a $17.50 price objective on shares of Primo Water in a research note on Wednesday, November 8th. Finally, Barrington Research upped their price objective on shares of Primo Water from $17.00 to $19.00 and gave the company an outperform rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Primo Water currently has an average rating of Hold and a consensus price target of $17.10.
Shares of Primo Water (PRMW) opened at $12.58 on Wednesday. Primo Water has a 1-year low of $10.47 and a 1-year high of $15.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82. The firm has a market cap of $365.74, a PE ratio of -18.23, a price-to-earnings-growth ratio of 4.10 and a beta of -0.32.
In other news, CFO Mark Castaneda sold 6,200 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.45, for a total value of $83,390.00. Following the completion of the sale, the chief financial officer now directly owns 236,113 shares of the company’s stock, valued at $3,175,719.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Camden Partners Strategic Fund sold 58,383 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $12.35, for a total transaction of $721,030.05. The disclosure for this sale can be found here. Insiders have sold 130,295 shares of company stock valued at $1,636,440 over the last ninety days. Insiders own 15.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors lifted its position in shares of Primo Water by 17.1% in the second quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock worth $182,000 after purchasing an additional 2,097 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Primo Water 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 in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Primo Water in the second quarter worth approximately $218,000. Thompson Davis & CO. Inc. lifted its position in shares of Primo Water by 70.0% in the third quarter. Thompson Davis & CO. Inc. now owns 21,250 shares of the company’s stock worth $252,000 after purchasing an additional 8,750 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Primo Water by 20.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock worth $267,000 after purchasing an additional 3,625 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.
Primo Water Company Profile
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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