Primo Water Co. (NASDAQ:PRMW) – Stock analysts at Barrington Research lowered their Q2 2018 earnings per share estimates for Primo Water in a research note issued to investors on Monday. Barrington Research analyst M. Petusky now expects that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.08. Barrington Research currently has a “Outperform” rating and a $19.00 target price on the stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, November 10th. B. Riley reaffirmed a “buy” rating and set a $17.50 price target on shares of Primo Water in a research report on Wednesday, November 8th. BidaskClub raised shares of Primo Water from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, ValuEngine lowered shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.10.
Primo Water (PRMW) traded up $0.19 during trading hours on Wednesday, reaching $13.02. 209,016 shares of the company were exchanged, compared to its average volume of 279,212. Primo Water has a 1-year low of $10.47 and a 1-year high of $15.39. The company has a market capitalization of $385.16, a price-to-earnings ratio of -18.87, a price-to-earnings-growth ratio of 3.97 and a beta of -0.31. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 3.99.
In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $12.35, for a total transaction of $721,030.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Castaneda sold 6,200 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.45, for a total transaction of $83,390.00. Following the sale, the chief financial officer now owns 236,113 shares in the company, valued at $3,175,719.85. The disclosure for this sale can be found here. Insiders have sold 130,295 shares of company stock worth $1,636,440 over the last quarter. Corporate insiders own 15.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PRMW. Schwab Charles Investment Management Inc. grew its stake in Primo Water by 42.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 49,200 shares of the company’s stock worth $625,000 after buying an additional 14,600 shares in the last quarter. Rhumbline Advisers grew its stake in Primo Water by 19.6% during the second quarter. Rhumbline Advisers now owns 26,995 shares of the company’s stock worth $343,000 after buying an additional 4,425 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Primo Water by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock worth $1,302,000 after buying an additional 2,490 shares in the last quarter. Wells Fargo & Company MN grew its stake in Primo Water by 28.5% during the second quarter. Wells Fargo & Company MN now owns 111,151 shares of the company’s stock worth $1,411,000 after buying an additional 24,646 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Primo Water during the second quarter worth about $218,000. Hedge funds and other institutional investors own 68.61% of the company’s stock.
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About Primo Water
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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