Raymond James Lowers Primo Water (NYSE:PRMW) to Outperform

Primo Water (NYSE:PRMW - Get Free Report) was downgraded by research analysts at Raymond James from a "strong-buy" rating to an "outperform" rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $21.00 price objective on the stock. Raymond James' price target points to a potential upside of 16.34% from the stock's current price.

PRMW has been the topic of several other research reports. StockNews.com downgraded Primo Water from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 18th. JPMorgan Chase & Co. lifted their price objective on shares of Primo Water from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. Finally, TD Securities decreased their target price on shares of Primo Water from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Water presently has an average rating of "Buy" and a consensus price target of $20.75.

Primo Water Stock Performance

NYSE:PRMW traded down $0.16 during mid-day 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 current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88. The company has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $15.03. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.72 and a beta of 1.12. Primo Water has a 52 week low of $12.27 and a 52 week high of $18.49.

Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million during 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, research analysts expect that Primo Water will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Primo Water

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company's stock valued at $36,000 after acquiring an additional 1,848 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Primo Water during the first quarter valued at approximately $36,000. PNC Financial Services Group Inc. boosted its holdings in Primo Water by 26.1% during the second quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company's stock worth $52,000 after buying an additional 853 shares in the last quarter. Point72 Middle East FZE acquired a new position in Primo Water in the fourth quarter worth approximately $54,000. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Primo Water by 209.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock valued at $90,000 after buying an additional 3,945 shares in the last quarter. 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.