Primo Water Corp. (PRMW) Price Target Raised to $15.00
Primo Water Corp. (NASDAQ:PRMW) had its target price upped by research analysts at Barrington Research from $13.00 to $15.00 in a report issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 11.86% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and issued a $13.00 price target on shares of Primo Water Corp. in a research note on Friday, July 29th. Zacks Investment Research upgraded Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Saturday, July 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $13.75.
Primo Water Corp. (NASDAQ:PRMW) opened at 13.41 on Tuesday. The company has a 50-day moving average price of $11.83 and a 200-day moving average price of $11.42. The stock has a market capitalization of $349.06 million, a PE ratio of 82.78 and a beta of 0.04. Primo Water Corp. has a 12-month low of $7.39 and a 12-month high of $13.67.
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Primo Water Corp. (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Primo Water Corp. had a return on equity of 22.31% and a net margin of 3.53%. The company earned $34.40 million during the quarter, compared to analysts’ expectations of $33.86 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that Primo Water Corp. will post $0.24 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in shares of Primo Water Corp. by 90.9% in the second quarter. GSA Capital Partners LLP now owns 140,398 shares of the company’s stock valued at $1,658,000 after buying an additional 66,846 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of Primo Water Corp. during the second quarter valued at about $523,000. Geode Capital Management LLC boosted its position in shares of Primo Water Corp. by 31.0% in the first quarter. Geode Capital Management LLC now owns 149,029 shares of the company’s stock valued at $1,503,000 after buying an additional 35,225 shares during the last quarter. Alpine Partners VI LLC purchased a new position in shares of Primo Water Corp. during the first quarter valued at about $106,000. Finally, Menta Capital LLC purchased a new position in shares of Primo Water Corp. during the first quarter valued at about $226,000. Hedge funds and other institutional investors own 64.59% of the company’s stock.
About Primo Water Corp.
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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