Primo Water (NYSE:PRMW) Rating Lowered to Hold at StockNews.com

Primo Water (NYSE:PRMW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

PRMW has been the topic of several other research reports. TD Securities dropped their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Primo Water has an average rating of “Moderate Buy” and an average price target of $21.25.

Primo Water Price Performance

Shares of NYSE PRMW opened at $19.89 on Friday. Primo Water has a twelve month low of $12.27 and a twelve month high of $19.93. The firm has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $15.72. The company has a market capitalization of $3.20 billion, a PE ratio of 13.35, a P/E/G ratio of 1.85 and a beta of 1.09. 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 announced 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). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The firm had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. On average, sell-side analysts forecast that Primo Water will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Primo Water

Several hedge funds and other institutional investors have recently made changes to their positions in PRMW. SG Americas Securities LLC bought a new stake in shares of Primo Water during the third quarter worth about $841,000. Raymond James & Associates grew its holdings in shares of Primo Water by 303.5% in the third quarter. Raymond James & Associates now owns 806,004 shares of the company’s stock valued at $11,123,000 after acquiring an additional 606,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Primo Water by 115.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 261,140 shares of the company’s stock valued at $3,604,000 after acquiring an additional 140,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Primo Water by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,437 shares of the company’s stock valued at $475,000 after acquiring an additional 4,754 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Primo Water by 0.7% during the third quarter. Mackenzie Financial Corp now owns 261,154 shares of the company’s stock worth $3,503,000 after acquiring an additional 1,819 shares during the period. 87.71% of the stock is owned by institutional investors.

Primo Water Company Profile

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.