Primo Water Co. (NYSE:PRMW) Receives $20.75 Average Target Price from Brokerages

Shares of Primo Water Co. (NYSE:PRMW - Get Free Report) have been assigned an average recommendation of "Buy" from the four analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.75.

PRMW has been the topic of several recent analyst reports. TD Securities dropped their price objective on Primo Water from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, January 11th. StockNews.com cut Primo Water from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. raised their price objective on Primo Water from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. Finally, Raymond James cut Primo Water from a "strong-buy" rating to an "outperform" rating and set a $21.00 price objective on the stock. in a research note on Wednesday, April 3rd.

Primo Water Trading Up 0.5 %

Shares of PRMW stock traded up $0.10 during trading hours on Friday, hitting $18.95. 525,716 shares of the company were exchanged, compared to its average volume of 877,157. The firm has a market cap of $3.05 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.78 and a beta of 1.12. Primo Water has a fifty-two week low of $12.27 and a fifty-two week high of $19.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03. The company has a 50 day simple moving average of $17.38 and a two-hundred day simple moving average of $15.54.

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

Primo Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.36 annualized dividend and a yield of 1.90%. This is a positive change from Primo Water's previous quarterly dividend of $0.08. Primo Water's dividend payout ratio (DPR) is 24.16%.

Institutional Investors Weigh In On Primo Water

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company's stock valued at $36,000 after buying an additional 1,848 shares in the last quarter. CWM LLC grew its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company's stock valued at $43,000 after buying an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in Primo Water during the 3rd quarter valued at about $102,000. Aigen Investment Management LP purchased a new position in Primo Water during the 3rd quarter valued at about $139,000. Finally, Blueshift Asset Management LLC purchased a new position in Primo Water during the 3rd quarter valued at about $159,000. Hedge funds and other institutional investors 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.