Northland Securities assumed coverage on shares of Primo Water (NASDAQ:PRMW) in a research note issued to investors on Friday morning, Stock Target Advisor reports. The brokerage issued a buy rating and a $16.00 price target on the stock.
Several other analysts also recently issued reports on the company. Lake Street Capital downgraded Primo Water from a buy rating to a hold rating and dropped their price target for the company from $18.00 to $14.00 in a research note on Wednesday, November 6th. B. Riley reissued a buy rating and issued a $18.00 price target on shares of Primo Water in a research note on Friday, September 6th. Zacks Investment Research raised Primo Water from a sell rating to a hold rating in a research note on Thursday, October 24th. Barrington Research reissued a buy rating and issued a $15.00 price target on shares of Primo Water in a research note on Wednesday, November 6th. Finally, BMO Capital Markets set a $19.00 price target on Primo Water and gave the company a buy rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Primo Water presently has a consensus rating of Hold and an average price target of $16.17.
Shares of NASDAQ PRMW traded up $0.09 during midday trading on Friday, hitting $10.07. The stock had a trading volume of 219,600 shares, compared to its average volume of 324,705. The company’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $12.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.92 and a quick ratio of 0.70. The firm has a market cap of $384.11 million, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 6.80 and a beta of 0.78. Primo Water has a fifty-two week low of $9.72 and a fifty-two week high of $16.35.
In related news, Director Susan E. Cates bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $12.23 per share, with a total value of $61,150.00. Following the completion of the transaction, the director now owns 28,968 shares in the company, valued at $354,278.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Primo Water by 176.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock worth $25,000 after buying an additional 1,335 shares during the last quarter. First Trust Advisors LP increased its position in Primo Water by 52.1% during the third quarter. First Trust Advisors LP now owns 466,316 shares of the company’s stock worth $5,726,000 after buying an additional 159,825 shares during the last quarter. Russell Investments Group Ltd. increased its position in Primo Water by 228.6% during the third quarter. Russell Investments Group Ltd. now owns 428,050 shares of the company’s stock worth $5,257,000 after buying an additional 297,766 shares during the last quarter. California Public Employees Retirement System increased its position in Primo Water by 6.0% during the third quarter. California Public Employees Retirement System now owns 63,305 shares of the company’s stock worth $777,000 after buying an additional 3,600 shares during the last quarter. Finally, Usca Ria LLC acquired a new position in Primo Water during the third quarter worth approximately $31,000. 90.10% of the stock is currently owned by institutional investors and hedge funds.
About Primo Water
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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