Barrington Research reissued their buy rating on shares of Primo Water (NASDAQ:PRMW) in a research note released on Wednesday. Barrington Research currently has a $21.00 price target on the stock.

“We are currently expecting third quarter revenue of $83.3 million. Management’s guidance for Primo’s top-line performance in the third quarter is $80.5- 83.5 million. The consensus estimate is $83.1 million. Our top-line estimate includes $72.4 million in water-related sales (both exchange and refill) versus the $71.7 million generated in last year’s comparable period and $10.9 million in dispenser sales versus the $10.5 million in revenue delivered in Q3/17.”,” Barrington Research’s analyst wrote.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Primo Water from a hold rating to a sell rating in a research report on Saturday, September 22nd. Zacks Investment Research raised shares of Primo Water from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Saturday, August 11th. BMO Capital Markets raised their price target on shares of Primo Water from $16.00 to $18.00 and gave the company a market perform rating in a research report on Wednesday, August 8th. Finally, B. Riley raised their price target on shares of Primo Water from $20.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Primo Water currently has an average rating of Hold and a consensus price target of $20.75.

PRMW opened at $16.57 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06. Primo Water has a fifty-two week low of $10.64 and a fifty-two week high of $20.72. The stock has a market cap of $624.61 million, a P/E ratio of 78.90, a PEG ratio of 3.63 and a beta of 0.48.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Primo Water had a net margin of 3.21% and a return on equity of 8.21%. The company had revenue of $75.80 million for the quarter, compared to analyst estimates of $72.96 million. Equities research analysts predict that Primo Water will post 0.38 EPS for the current fiscal year.

In other Primo Water news, VP Michael Cauthen sold 1,377 shares of Primo Water stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $19.56, for a total value of $26,934.12. Following the sale, the vice president now owns 6,159 shares of the company’s stock, valued at $120,470.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Norris sold 43,454 shares of Primo Water stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $19.74, for a total transaction of $857,781.96. Following the completion of the sale, the director now directly owns 4,282 shares in the company, valued at approximately $84,526.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,509 shares of company stock worth $4,895,288. Insiders own 13.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PRMW. Akre Capital Management LLC raised its position in Primo Water by 48.6% in the second quarter. Akre Capital Management LLC now owns 2,843,220 shares of the company’s stock worth $49,728,000 after acquiring an additional 930,000 shares during the period. Renaissance Technologies LLC raised its position in Primo Water by 166.3% in the second quarter. Renaissance Technologies LLC now owns 690,355 shares of the company’s stock worth $12,074,000 after acquiring an additional 431,100 shares during the period. BlackRock Inc. raised its position in Primo Water by 23.4% in the second quarter. BlackRock Inc. now owns 1,804,996 shares of the company’s stock worth $31,569,000 after acquiring an additional 342,728 shares during the period. Dimensional Fund Advisors LP raised its position in Primo Water by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,045,086 shares of the company’s stock worth $18,279,000 after acquiring an additional 251,899 shares during the period. Finally, Citadel Advisors LLC raised its position in Primo Water by 1,175.1% in the second quarter. Citadel Advisors LLC now owns 256,428 shares of the company’s stock worth $4,486,000 after acquiring an additional 236,317 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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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