Primo Water Corporation (NASDAQ:PRMW) – Analysts at Barrington Research reduced their FY2017 earnings estimates for shares of Primo Water Corporation in a research report issued to clients and investors on Wednesday. Barrington Research analyst M. Petusky now anticipates that the company will post earnings of ($0.26) per share for the year, down from their previous estimate of ($0.17). Barrington Research has a “Outperform” rating and a $17.00 price target on the stock. Barrington Research also issued estimates for Primo Water Corporation’s Q4 2017 earnings at $0.04 EPS, Q1 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.09 EPS and FY2019 earnings at $0.48 EPS.
A number of other analysts have also commented on the stock. ValuEngine upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Primo Water Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. BidaskClub upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Primo Water Corporation in a research note on Friday, June 9th. Finally, B. Riley reiterated a “buy” rating and issued a $17.50 price target on shares of Primo Water Corporation in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.10.
Primo Water Corporation (NASDAQ PRMW) opened at 12.66 on Friday. The company’s market capitalization is $377.83 million. Primo Water Corporation has a 52-week low of $10.74 and a 52-week high of $15.39. The stock’s 50 day moving average is $12.67 and its 200-day moving average is $13.05.
Primo Water Corporation (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.09. Primo Water Corporation had a negative return on equity of 42.49% and a negative net margin of 11.15%. The firm had revenue of $74.80 million during the quarter, compared to the consensus estimate of $73.20 million. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 117.4% on a year-over-year basis.
In other news, insider Camden Partners Strategic Fund sold 7,985 shares of Primo Water Corporation stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total value of $107,797.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 2,750 shares of company stock valued at $30,050 over the last quarter. Company insiders own 15.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PRMW. William Blair Investment Management LLC acquired a new stake in shares of Primo Water Corporation during the second quarter valued at about $7,010,000. Elk Creek Partners LLC acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $7,216,000. Eagle Asset Management Inc. acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $5,373,000. Royce & Associates LP acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $2,167,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Primo Water Corporation by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock valued at $6,988,000 after buying an additional 130,127 shares during the period. Institutional investors own 58.01% 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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