Primo Water Co. (NASDAQ:PRMW) – Equities researchers at Barrington Research lowered their FY2018 EPS estimates for Primo Water in a research note issued to investors on Tuesday, January 8th. Barrington Research analyst M. Petusky now forecasts that the company will post earnings per share of ($1.44) for the year, down from their previous estimate of $0.30. Barrington Research currently has a “Buy” rating and a $20.00 target price on the stock.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The firm had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.26 million. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.31%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share.
PRMW has been the topic of a number of other reports. B. Riley cut their price target on shares of Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. BMO Capital Markets cut their price target on shares of Primo Water from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, October 24th. Zacks Investment Research cut shares of Primo Water from a “hold” rating to a “sell” rating in a report on Saturday, November 10th. BidaskClub cut shares of Primo Water from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, Imperial Capital began coverage on shares of Primo Water in a report on Friday, November 16th. They issued an “outperform” rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Primo Water has an average rating of “Buy” and an average price target of $19.20.
NASDAQ PRMW opened at $14.54 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $574.94 million, a PE ratio of -51.93, a P/E/G ratio of 2.52 and a beta of 0.58. Primo Water has a 12 month low of $11.16 and a 12 month high of $20.72.
In related news, VP Michael Cauthen sold 1,859 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $14.53, for a total value of $27,011.27. Following the completion of the sale, the vice president now directly owns 5,456 shares of the company’s stock, valued at $79,275.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA lifted its position in shares of Primo Water by 229.7% during the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock valued at $25,000 after buying an additional 958 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Primo Water by 24.3% during the third quarter. Legal & General Group Plc now owns 4,917 shares of the company’s stock valued at $89,000 after buying an additional 962 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Primo Water during the second quarter valued at about $214,000. IFG Advisory LLC purchased a new stake in shares of Primo Water during the third quarter valued at about $225,000. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of Primo Water during the third quarter valued at about $240,000. 75.84% of the stock is owned by institutional investors.
Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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