Primo Water Corporation (NASDAQ:PRMW) has earned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.17.

PRMW has been the subject of several research reports. Zacks Investment Research raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine downgraded shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Finally, B. Riley reaffirmed a “buy” rating and set a $17.50 price objective on shares of Primo Water Corporation in a report on Sunday, August 13th.

Primo Water Corporation (PRMW) opened at 11.01 on Wednesday. The firm has a 50 day moving average of $11.19 and a 200-day moving average of $12.03. The company’s market capitalization is $328.85 million. Primo Water Corporation has a 52 week low of $10.47 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The business had revenue of $74.80 million during the quarter, compared to the consensus estimate of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. The firm’s quarterly revenue was up 117.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 EPS. On average, analysts forecast that Primo Water Corporation will post ($0.31) earnings per share for the current year.

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

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Primo Water Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,000,388 shares of the company’s stock worth $13,585,000 after purchasing an additional 26,542 shares in the last quarter. Granite Point Capital Management L.P. increased its holdings in shares of Primo Water Corporation by 233.3% during the second quarter. Granite Point Capital Management L.P. now owns 50,000 shares of the company’s stock valued at $635,000 after acquiring an additional 35,000 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Primo Water Corporation by 42.2% during the second quarter. Royce & Associates LP now owns 226,900 shares of the company’s stock valued at $2,882,000 after acquiring an additional 67,300 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Primo Water Corporation by 13.0% during the second quarter. Eagle Asset Management Inc. now owns 447,192 shares of the company’s stock valued at $5,679,000 after acquiring an additional 51,504 shares in the last quarter. Finally, B. Riley Financial Inc. increased its holdings in shares of Primo Water Corporation by 137.9% during the second quarter. B. Riley Financial Inc. now owns 84,375 shares of the company’s stock valued at $1,072,000 after acquiring an additional 48,907 shares in the last quarter. Institutional investors own 62.74% of the company’s stock.

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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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