Primo Water (NYSE:PRMW) PT Raised to $30.00

Primo Water (NYSE:PRMWGet Free Report) had its price target hoisted by equities researchers at Royal Bank of Canada from $19.00 to $30.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 35.44% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft increased their price target on Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Check Out Our Latest Research Report on Primo Water

Primo Water Trading Up 1.7 %

Shares of Primo Water stock opened at $22.15 on Monday. Primo Water has a 12-month low of $12.27 and a 12-month high of $23.11. The firm’s 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $16.39. The company has a current ratio of 2.13, a quick ratio of 2.02 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.69 and a beta of 1.09.

Primo Water (NYSE:PRMWGet Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a return on equity of 9.36% and a net margin of 12.22%. The firm had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Analysts predict that Primo Water will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRMW. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the first quarter valued at approximately $27,000. Signaturefd LLC raised its stake in Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after purchasing an additional 1,848 shares during the last quarter. CWM LLC raised its stake in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the last quarter. Crewe Advisors LLC purchased a new position in Primo Water in the 1st quarter valued at $66,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Primo Water during the 3rd quarter worth $102,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Water Company Profile

(Get Free Report)

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.

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