Primo Water (NASDAQ:PRMW) had its price target upped by research analysts at TD Securities from $14.00 to $17.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price objective points to a potential upside of 25.46% from the stock's current price.
PRMW has been the topic of several other research reports. Canaccord Genuity reiterated a "buy" rating and issued a $15.00 price target on shares of Primo Water in a report on Friday, May 8th. Veritas Investment Research cut shares of Primo Water from a "buy" rating to a "sell" rating in a report on Thursday, April 16th. CIBC lowered their price target on shares of Primo Water from $17.00 to $12.50 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Zacks Investment Research upgraded Primo Water from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on Primo Water from $14.00 to $17.00 in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of "Hold" and a consensus price target of $15.39.
Shares of NASDAQ PRMW traded up $0.14 during mid-day trading on Tuesday, reaching $13.55. 86,520 shares of the company were exchanged, compared to its average volume of 2,163,194. Primo Water has a 1 year low of $6.33 and a 1 year high of $16.00. The firm has a 50-day moving average of $12.27 and a 200 day moving average of $12.79. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 150.35, a P/E/G ratio of 4.62 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 0.92 and a debt-to-equity ratio of 1.96.
Primo Water (NASDAQ:PRMW) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Primo Water had a net margin of 1.29% and a return on equity of 7.11%. The business had revenue of $474.20 million during the quarter, compared to analysts' expectations of $462.98 million. On average, equities analysts forecast that Primo Water will post 0.12 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of Primo Water by 2.4% in the 4th quarter. Capital Research Global Investors now owns 4,258,557 shares of the company's stock valued at $47,802,000 after buying an additional 98,000 shares in the last quarter. Norges Bank acquired a new position in shares of Primo Water in the 4th quarter valued at $29,413,000. Deutsche Bank AG raised its position in Primo Water by 1,157.7% in the 1st quarter. Deutsche Bank AG now owns 161,361 shares of the company's stock valued at $1,462,000 after purchasing an additional 148,531 shares during the last quarter. Bank of Montreal Can boosted its stake in Primo Water by 44.8% during the 4th quarter. Bank of Montreal Can now owns 4,449 shares of the company's stock worth $50,000 after purchasing an additional 1,376 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Primo Water by 132.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,889 shares of the company's stock worth $166,000 after purchasing an additional 6,765 shares during the last quarter. 85.03% 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.
See Also: Return on Equity (ROE)
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7 Gun Stocks to Buy During the Coronavirus Pandemic
Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.
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