Primo Water (NYSE:PRMW) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Primo Water (NYSE:PRMW) from a hold rating to a buy rating in a research note published on Thursday.

Other equities research analysts also recently issued reports about the stock. William Blair initiated coverage on shares of Primo Water in a report on Thursday, October 24th. They set an “outperform” rating for the company. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Price Performance

Shares of PRMW stock traded down $0.23 during trading hours on Thursday, hitting $24.21. The company’s stock had a trading volume of 11,422,300 shares, compared to its average volume of 1,915,558. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The business has a fifty day moving average of $25.46 and a 200-day moving average of $22.96.

Primo Water Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s payout ratio is 22.36%.

Institutional Trading of Primo Water

A number of large investors have recently modified their holdings of the company. Raymond James Trust N.A. grew its position in Primo Water by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 18,778 shares of the company’s stock worth $474,000 after purchasing an additional 424 shares during the last quarter. Blue Trust Inc. grew its holdings in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after buying an additional 641 shares in the last quarter. CWM LLC increased its position in Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after acquiring an additional 792 shares during the period. Natixis Advisors LLC raised its stake in Primo Water by 3.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock valued at $616,000 after acquiring an additional 852 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after acquiring an additional 981 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Primo Water

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.