StockNews.com Initiates Coverage on Primo Water (NYSE:PRMW)

Research analysts at StockNews.com initiated coverage on shares of Primo Water (NYSE:PRMW) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

Several other analysts have also commented on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. William Blair started coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating on the stock. Finally, Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Primo Water presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Price Performance

NYSE:PRMW opened at $24.21 on Tuesday. The firm’s fifty day moving average is $25.54 and its two-hundred day moving average is $23.23. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a one year low of $14.06 and a one year high of $28.06.

Hedge Funds Weigh In On Primo Water

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake 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 worth $31,000 after acquiring an additional 981 shares during the last quarter. Blue Trust Inc. lifted its holdings in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after purchasing an additional 641 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Primo Water in the 3rd quarter valued at $48,000. CWM LLC boosted its stake in Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after purchasing an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Primo Water during the second quarter worth $109,000. 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.