Primo Water (NYSE:PRMW) Upgraded at StockNews.com

Primo Water (NYSE:PRMW - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

A number of other research analysts have also weighed in on the stock. Raymond James lowered shares of Primo Water from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Finally, William Blair initiated coverage on Primo Water in a research note on Thursday, October 24th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.83.

Primo Water Price Performance

PRMW traded down $0.22 during trading on Friday, hitting $24.22. The company's stock had a trading volume of 11,422,356 shares, compared to its average volume of 1,320,818. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.93 and a beta of 1.10. The business's fifty day simple moving average is $25.27 and its 200 day simple moving average is $22.77. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06.

Primo Water (NYSE:PRMW - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Primo Water will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Primo Water

A number of large investors have recently modified their holdings of PRMW. Allspring Global Investments Holdings LLC lifted its stake in Primo Water by 0.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company's stock worth $96,647,000 after purchasing an additional 32,875 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Primo Water by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company's stock valued at $34,868,000 after buying an additional 49,500 shares in the last quarter. TD Asset Management Inc grew its position in shares of Primo Water by 27.3% in the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company's stock valued at $30,623,000 after buying an additional 300,929 shares during the last quarter. Intact Investment Management Inc. lifted its position in Primo Water by 43.6% in the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company's stock valued at $34,849,000 after acquiring an additional 419,370 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Primo Water by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company's stock valued at $29,788,000 after acquiring an additional 53,241 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Primo Water

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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