Primo Water (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

PRMW has been the topic of a number of other reports. BMO Capital Markets upgraded shares of Primo Water from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $15.00 to $17.00 in a report on Friday, November 16th. They noted that the move was a valuation call. BidaskClub upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Imperial Capital restated an “outperform” rating and issued a $20.00 target price on shares of Primo Water in a report on Friday, March 8th. B. Riley boosted their target price on shares of Primo Water from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, ValuEngine upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.20.

Shares of NASDAQ PRMW opened at $15.29 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market capitalization of $595.16 million, a price-to-earnings ratio of 44.97, a P/E/G ratio of 3.00 and a beta of 0.43. Primo Water has a 52-week low of $11.16 and a 52-week high of $20.72.

In other news, VP Michael Cauthen sold 1,859 shares of the business’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $14.53, for a total value of $27,011.27. Following the sale, the vice president now directly owns 5,456 shares in the company, valued at approximately $79,275.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its stake in shares of Primo Water by 229.7% during the 3rd quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock worth $25,000 after purchasing an additional 958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Primo Water during the 4th quarter worth about $36,000. Legal & General Group Plc boosted its stake in shares of Primo Water by 19.0% during the 4th quarter. Legal & General Group Plc now owns 5,849 shares of the company’s stock worth $82,000 after purchasing an additional 932 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Primo Water during the 4th quarter worth about $92,000. Finally, HRT Financial LLC purchased a new position in shares of Primo Water during the 4th quarter worth about $153,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

About Primo Water

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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