Primo Water Corporation (NASDAQ:PRMW) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $18.17.
Several research firms have issued reports on PRMW. ValuEngine upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. B. Riley restated a “buy” rating and issued a $17.50 price objective on shares of Primo Water Corporation in a research note on Monday, August 7th. BidaskClub upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Primo Water Corporation in a research note on Friday, June 9th. Finally, Zacks Investment Research lowered Primo Water Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th.
Primo Water Corporation (NASDAQ PRMW) traded up 1.71% during mid-day trading on Tuesday, reaching $11.90. The company’s stock had a trading volume of 167,425 shares. Primo Water Corporation has a 52-week low of $10.74 and a 52-week high of $15.39. The stock’s market cap is $355.43 million. The company has a 50 day moving average of $12.02 and a 200-day moving average of $12.65.
Primo Water Corporation (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $74.80 million during the quarter, compared to the consensus estimate of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. Primo Water Corporation’s quarterly revenue was up 117.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities analysts forecast that Primo Water Corporation will post ($0.31) earnings per share for the current year.
In other news, Director Malcolm Mcquilkin sold 13,714 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $11.70, for a total transaction of $160,453.80. Following the transaction, the director now owns 101,246 shares in the company, valued at $1,184,578.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Billy D. Prim sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total value of $12,160,000.00. Following the transaction, the insider now owns 1,980,927 shares in the company, valued at approximately $24,088,072.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,032,781 shares of company stock worth $12,559,684. 15.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Primo Water Corporation by 1.8% during the second quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock worth $570,000 after buying an additional 800 shares in the last quarter. Argent Capital Management LLC acquired a new stake in Primo Water Corporation during the second quarter worth approximately $1,631,000. The Manufacturers Life Insurance Company grew its position in Primo Water Corporation by 20.8% during the second quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock worth $267,000 after buying an additional 3,625 shares in the last quarter. State Street Corp grew its position in Primo Water Corporation by 11.6% during the second quarter. State Street Corp now owns 386,038 shares of the company’s stock worth $4,906,000 after buying an additional 40,107 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Primo Water Corporation by 16.5% during the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after buying an additional 2,028 shares in the last quarter. Institutional investors own 63.05% of the company’s stock.
About Primo Water Corporation
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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