JPMorgan Chase & Co. Raises Primo Water (NYSE:PRMW) Price Target to $21.00

Primo Water (NYSE:PRMW - Free Report) had its target price lifted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of Primo Water from a buy rating to a hold rating in a research report on Saturday, April 27th. Raymond James lowered shares of Primo Water from a strong-buy rating to an outperform rating and set a $21.00 target price on the stock. in a research report on Wednesday, April 3rd. Finally, TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Primo Water presently has an average rating of Moderate Buy and a consensus target price of $21.25.

Primo Water Stock Up 3.5 %

PRMW traded up $0.66 during midday trading on Thursday, hitting $19.66. 1,436,072 shares of the company's stock traded hands, compared to its average volume of 1,019,247. The company has a market cap of $3.16 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The stock's fifty day simple moving average is $17.61 and its 200-day simple moving average is $15.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. Primo Water has a one year low of $12.27 and a one year high of $19.68.

Primo Water (NYSE:PRMW - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The business had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. As a group, equities analysts anticipate that Primo Water will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.83%. This is an increase from Primo Water's previous quarterly dividend of $0.08. Primo Water's payout ratio is currently 24.16%.

Institutional Investors Weigh In On Primo Water

A number of institutional investors have recently bought and sold shares of PRMW. Signaturefd LLC grew its holdings in shares of Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company's stock worth $36,000 after purchasing an additional 1,848 shares during the last quarter. CWM LLC grew its holdings in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company's stock worth $43,000 after purchasing an additional 631 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in shares of Primo Water in the 3rd quarter worth about $102,000. Aigen Investment Management LP bought a new stake in shares of Primo Water in the 3rd quarter worth about $139,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Primo Water in the 3rd quarter worth about $159,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Primo Water Company Profile

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.