Deutsche Bank Aktiengesellschaft Increases Primo Water (NYSE:PRMW) Price Target to $20.00

Primo Water (NYSE:PRMW - Free Report) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $17.00 to $20.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

PRMW has been the subject of a number of other reports. Raymond James lowered Primo Water from a strong-buy rating to an outperform rating and set a $21.00 price objective for the company. in a report on Wednesday, April 3rd. StockNews.com lowered Primo Water from a buy rating to a hold rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $19.00 to $21.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, TD Securities lowered 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 note on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $21.00.

Primo Water Stock Performance

NYSE:PRMW traded up $0.19 during midday trading on Friday, reaching $21.18. 2,362,821 shares of the company traded hands, compared to its average volume of 1,103,958. Primo Water has a twelve month low of $12.27 and a twelve month high of $23.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The company has a fifty day moving average price of $18.10 and a 200 day moving average price of $15.91. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09.

Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. On average, analysts expect that Primo Water will post 0.82 EPS for the current fiscal year.

Primo Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, June 7th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, June 7th. Primo Water's payout ratio is 23.49%.

Institutional Investors Weigh In On Primo Water

Hedge funds have recently modified their holdings of the stock. Forge First Asset Management Inc. acquired a new position in Primo Water in the 1st quarter worth approximately $6,792,000. Tocqueville Asset Management L.P. boosted its position in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company's stock worth $1,748,000 after buying an additional 50,000 shares during the period. ProShare Advisors LLC grew its holdings in shares of Primo Water by 8.5% during the first quarter. ProShare Advisors LLC now owns 28,137 shares of the company's stock valued at $512,000 after buying an additional 2,215 shares in the last quarter. Global Alpha Capital Management Ltd. raised its position in Primo Water by 13.5% during the first quarter. Global Alpha Capital Management Ltd. now owns 127,000 shares of the company's stock valued at $2,313,000 after buying an additional 15,100 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Primo Water in the 1st quarter worth about $874,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.