Primo Water (NASDAQ:PRMW) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Primo Water from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. B. Riley reaffirmed a “buy” rating and set a $17.50 price target on shares of Primo Water in a research note on Wednesday, November 8th. Barrington Research raised their price target on Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded Primo Water from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Primo Water has an average rating of “Hold” and an average target price of $17.10.

Primo Water (NASDAQ PRMW) traded up $0.11 on Friday, hitting $12.56. The stock had a trading volume of 117,965 shares, compared to its average volume of 161,367. Primo Water has a 52 week low of $10.47 and a 52 week high of $15.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82. The stock has a market cap of $373.68, a P/E ratio of -18.20, a PEG ratio of 3.93 and a beta of -0.31.

In related news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $12.35, for a total value of $721,030.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.45, for a total value of $83,390.00. Following the completion of the transaction, the chief financial officer now directly owns 236,113 shares in the company, valued at $3,175,719.85. The disclosure for this sale can be found here. Insiders sold a total of 130,295 shares of company stock worth $1,636,440 over the last three months. 15.80% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Primo Water by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock valued at $570,000 after buying an additional 800 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Primo Water by 1.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 129,086 shares of the company’s stock valued at $1,639,000 after buying an additional 1,620 shares during the last quarter. Voya Investment Management LLC grew its holdings in Primo Water by 16.5% in the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock valued at $182,000 after buying an additional 2,028 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Primo Water by 17.1% in the 2nd quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock valued at $182,000 after buying an additional 2,097 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Primo Water by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock valued at $1,302,000 after buying an additional 2,490 shares during the last quarter. 68.61% of the stock is currently owned by institutional investors and hedge funds.

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Primo Water 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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