Primo Water Corp. (PRMW) Price Target Raised to $15.00 at Barrington Research
Primo Water Corp. (NASDAQ:PRMW) had its price objective hoisted by stock analysts at Barrington Research from $13.00 to $15.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price points to a potential upside of 11.86% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating and issued a $13.00 price objective on shares of Primo Water Corp. in a research report on Friday, July 29th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Saturday, July 30th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $13.75.
Shares of Primo Water Corp. (NASDAQ:PRMW) opened at 13.41 on Tuesday. Primo Water Corp. has a one year low of $7.39 and a one year high of $13.67. The stock has a market cap of $349.06 million, a PE ratio of 82.78 and a beta of 0.04. The company has a 50-day moving average of $11.83 and a 200 day moving average of $11.42.
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Primo Water Corp. (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. The company earned $34.40 million during the quarter, compared to analysts’ expectations of $33.86 million. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, analysts predict that Primo Water Corp. will post $0.24 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. acquired a new stake in shares of Primo Water Corp. during the second quarter valued at $409,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Primo Water Corp. during the second quarter worth about $192,000. Numeric Investors LLC bought a new position in shares of Primo Water Corp. during the second quarter worth about $531,000. National Asset Management Inc. raised its position in shares of Primo Water Corp. by 100.8% in the second quarter. National Asset Management Inc. now owns 22,670 shares of the company’s stock worth $136,000 after buying an additional 11,381 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Primo Water Corp. during the second quarter worth about $118,000. 64.59% of the stock is owned by hedge funds and other institutional investors.
Primo Water Corp. Company Profile
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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