Analysts Set Primo Water Co. (NYSE:PRMW) Target Price at $20.67

Primo Water Co. (NYSE:PRMW - Get Free Report) has been assigned an average rating of "Buy" from the four research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.75.

PRMW has been the subject of several research analyst reports. StockNews.com cut Primo Water from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 18th. JPMorgan Chase & Co. increased their price target on shares of Primo Water from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, February 20th. TD Securities decreased their price objective on shares of Primo Water from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, January 11th. Finally, 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.

Institutional Trading of Primo Water

Several large investors have recently modified their holdings of PRMW. Ancora Advisors LLC raised its position in shares of Primo Water by 2.0% during the 3rd quarter. Ancora Advisors LLC now owns 611,705 shares of the company's stock worth $8,442,000 after purchasing an additional 11,920 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Primo Water by 761.6% in the third quarter. Walleye Capital LLC now owns 111,030 shares of the company's stock valued at $1,532,000 after acquiring an additional 98,144 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Primo Water by 10.8% in the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company's stock valued at $37,444,000 after acquiring an additional 265,057 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Primo Water by 49.3% during the third quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company's stock valued at $4,310,000 after acquiring an additional 103,103 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC increased its position in Primo Water by 475.4% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 1,578,758 shares of the company's stock worth $19,798,000 after purchasing an additional 1,304,400 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Stock Performance

Shares of NYSE:PRMW traded down $0.16 during midday trading on Wednesday, hitting $18.05. The stock had a trading volume of 1,286,609 shares, compared to its average volume of 1,037,519. The company has a market capitalization of $2.90 billion, a PE ratio of 12.11, a P/E/G ratio of 1.72 and a beta of 1.12. Primo Water has a 1 year low of $12.27 and a 1 year high of $18.49. The stock has a 50 day moving average price of $16.25 and a two-hundred day moving average price of $15.03. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88.

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

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Primo Water's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.99%. Primo Water's payout ratio is currently 24.16%.

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.