Primo Water Corporation (NASDAQ:PRMW) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Primo Water Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets restated a “market perform” rating on shares of Primo Water Corporation in a research report on Friday, June 9th. ValuEngine upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. B. Riley restated a “buy” rating and set a $17.50 target price on shares of Primo Water Corporation in a research report on Saturday, May 13th. Finally, Barrington Research boosted their target price on Primo Water Corporation from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.10.

Primo Water Corporation (PRMW) traded up 1.19% during mid-day trading on Friday, reaching $12.77. 153,645 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $12.51 and a 200-day moving average price of $13.04. The stock’s market cap is $381.63 million. Primo Water Corporation has a 52 week low of $10.74 and a 52 week high of $15.39.

Primo Water Corporation (NASDAQ:PRMW) last posted its earnings results on Tuesday, May 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.09. The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $64.56 million. Primo Water Corporation had a negative return on equity of 38.63% and a negative net margin of 11.02%. Primo Water Corporation’s quarterly revenue was up 88.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, analysts forecast that Primo Water Corporation will post ($0.20) earnings per share for the current year.

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In other news, insider Camden Partners Strategic Fund sold 7,985 shares of Primo Water Corporation stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $13.50, for a total transaction of $107,797.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 2,750 shares of company stock worth $30,050 in the last quarter. 15.80% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PRMW. Russell Investments Group Ltd. acquired a new position in Primo Water Corporation during the fourth quarter valued at $2,941,000. State Street Corp boosted its position in Primo Water Corporation by 4.0% in the fourth quarter. State Street Corp now owns 312,245 shares of the company’s stock valued at $3,834,000 after buying an additional 12,108 shares during the period. Dimensional Fund Advisors LP boosted its position in Primo Water Corporation by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock valued at $6,988,000 after buying an additional 130,127 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Primo Water Corporation by 15.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,105 shares of the company’s stock valued at $198,000 after buying an additional 2,189 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Primo Water Corporation during the fourth quarter valued at $149,000. Institutional investors and hedge funds own 57.90% of the company’s stock.

About Primo Water Corporation

Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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