B. Riley Reiterates Buy Rating for Primo Water Corporation (NASDAQ:PRMW)
Primo Water Corporation (NASDAQ:PRMW)‘s stock had its “buy” rating restated by B. Riley in a research note issued to investors on Monday. They currently have a $17.50 price objective on the stock. B. Riley’s target price points to a potential upside of 47.80% from the stock’s current price.
Several other brokerages have also recently commented on PRMW. ValuEngine cut shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Primo Water Corporation in a research report on Friday, June 9th. Finally, Barrington Research raised their target price on shares of Primo Water Corporation from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.10.
Primo Water Corporation (NASDAQ PRMW) traded down 1.74% during trading on Monday, reaching $11.84. The company’s stock had a trading volume of 205,161 shares. Primo Water Corporation has a 52 week low of $10.74 and a 52 week high of $15.39. The company’s 50 day moving average price is $12.98 and its 200 day moving average price is $13.08. The company’s market cap is $353.84 million.
Primo Water Corporation (NASDAQ:PRMW) last issued 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. Primo Water Corporation had a negative net margin of 11.02% and a negative return on equity of 38.63%. The firm had revenue of $60.70 million during the quarter, compared to analyst estimates of $64.56 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 88.0% on a year-over-year basis. On average, equities analysts anticipate that Primo Water Corporation will post ($0.20) earnings per share for the current fiscal year.
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In other Primo Water Corporation news, insider Camden Partners Strategic Fund sold 7,985 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total value of $107,797.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 2,750 shares of company stock worth $30,050. 15.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HL Financial Services LLC boosted its stake in shares of Primo Water Corporation by 0.4% in the first quarter. HL Financial Services LLC now owns 37,947 shares of the company’s stock worth $515,000 after buying an additional 141 shares during the last quarter. HighTower Advisors LLC raised its stake in Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after buying an additional 300 shares during the period. BlackRock Inc. raised its stake in Primo Water Corporation by 1.1% in the third quarter. BlackRock Inc. now owns 35,765 shares of the company’s stock worth $434,000 after buying an additional 372 shares during the period. American International Group Inc. raised its stake in Primo Water Corporation by 7.5% in the first quarter. American International Group Inc. now owns 13,052 shares of the company’s stock worth $177,000 after buying an additional 910 shares during the period. Finally, Kings Point Capital Management raised its stake in Primo Water Corporation by 3.1% in the first quarter. Kings Point Capital Management now owns 39,900 shares of the company’s stock worth $542,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 58.01% of the company’s stock.
Primo Water Corporation Company Profile
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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