Analysts Set Primo Water Co. (NYSE:PRMW) Target Price at $20.75

Shares of Primo Water Co. (NYSE:PRMW) have been assigned an average recommendation of “Buy” from the four brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.75.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. TD Securities reduced their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Saturday.

Primo Water Stock Performance

NYSE PRMW opened at $18.87 on Friday. The stock has a market cap of $3.03 billion, a P/E ratio of 12.66, a PEG ratio of 1.78 and a beta of 1.12. The company’s 50-day simple moving average is $17.53 and its 200 day simple moving average is $15.62. Primo Water has a twelve month low of $12.27 and a twelve month high of $19.01. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, research analysts forecast that Primo Water will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio is presently 24.16%.

Institutional Investors Weigh In On Primo Water

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Primo Water by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock worth $67,439,000 after buying an additional 100,702 shares during the last quarter. SYSTM Wealth Solutions LLC raised its stake in shares of Primo Water by 26.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 34,076 shares of the company’s stock worth $621,000 after buying an additional 7,041 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Primo Water by 2.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 270,748 shares of the company’s stock worth $4,930,000 after buying an additional 7,728 shares during the last quarter. Raymond James & Associates raised its stake in shares of Primo Water by 10.1% during the first quarter. Raymond James & Associates now owns 1,048,337 shares of the company’s stock worth $19,090,000 after buying an additional 96,367 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the last quarter. 87.71% of the stock is owned by 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.