Primo Water Co. (NYSE:PRMW - Get Free Report)'s stock price dropped 7% during trading on Thursday . The company traded as low as $21.60 and last traded at $23.72. Approximately 652,038 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,242,891 shares. The stock had previously closed at $25.50.
Analyst Ratings Changes
Several research firms recently issued reports on PRMW. William Blair assumed coverage on shares of Primo Water in a report on Thursday, October 24th. They set an "outperform" rating for the company. Raymond James lowered Primo Water from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 2nd. StockNews.com cut shares of Primo Water from a "buy" rating to a "hold" rating in a research note on Sunday, October 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.83.
Get Our Latest Stock Report on Primo Water
Primo Water Stock Down 3.2 %
The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a market cap of $3.96 billion, a P/E ratio of 16.06, a PEG ratio of 1.93 and a beta of 1.10. The firm's 50-day moving average is $25.16 and its two-hundred day moving average is $22.74.
Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $485.00 million during the quarter, compared to analysts' expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current year.
Primo Water Dividend Announcement
The company also recently announced a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water's payout ratio is presently 22.78%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC bought a new stake in Primo Water in the 1st quarter valued at $27,000. GAMMA Investing LLC lifted its position in shares of Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company's stock valued at $31,000 after buying an additional 981 shares during the last quarter. Blue Trust Inc. boosted its position in Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company's stock worth $47,000 after purchasing an additional 641 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Primo Water during the 3rd quarter worth about $48,000. Finally, Crewe Advisors LLC acquired a new position in shares of Primo Water in the first quarter valued at approximately $66,000. 87.71% of the stock is currently owned by institutional investors.
About Primo Water
(
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Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.
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