Primo Water Corporation (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “

Other equities analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $17.50 price objective on shares of Primo Water Corporation in a research note on Sunday, August 13th. BidaskClub raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine cut shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.38.

Shares of Primo Water Corporation (PRMW) traded up 0.28% during mid-day trading on Wednesday, hitting $10.91. 13,347 shares of the stock were exchanged. The stock’s market capitalization is $325.86 million. The stock’s 50-day moving average is $11.49 and its 200-day moving average is $12.25. 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 issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. Primo Water Corporation’s revenue was up 117.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. Analysts forecast that Primo Water Corporation will post ($0.31) earnings per share for the current fiscal year.

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In other Primo Water Corporation news, insider Billy D. Prim sold 1,000,000 shares of Primo Water Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the completion of the sale, the insider now directly owns 1,980,927 shares in the company, valued at $24,088,072.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Malcolm Mcquilkin sold 11,082 shares of Primo Water Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $11.86, for a total transaction of $131,432.52. Following the sale, the director now owns 126,042 shares of the company’s stock, valued at $1,494,858.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,040,858 shares of company stock valued at $12,639,169. 15.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in Primo Water Corporation by 110.3% during the first quarter. US Bancorp DE now owns 9,884 shares of the company’s stock valued at $135,000 after purchasing an additional 5,184 shares during the last quarter. HighTower Advisors LLC lifted its position in Primo Water Corporation by 2.9% during the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock valued at $145,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC bought a new stake in Primo Water Corporation during the first quarter valued at approximately $147,000. Citadel Advisors LLC bought a new stake in Primo Water Corporation during the first quarter valued at approximately $156,000. Finally, Thompson Davis & CO. Inc. bought a new stake in Primo Water Corporation during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 63.05% 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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