Primo Water (PRMW) Downgraded by ValuEngine to Sell

Primo Water (NASDAQ:PRMW) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other equities analysts have also issued reports about the company. BidaskClub lowered Primo Water from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, November 10th. B. Riley reiterated a “buy” rating and set a $17.50 price objective on shares of Primo Water in a report on Wednesday, November 8th. Finally, Barrington Research increased their target price on shares of Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.10.

Primo Water (NASDAQ:PRMW) traded down $0.41 during trading hours on Friday, hitting $12.58. The stock had a trading volume of 124,730 shares, compared to its average volume of 221,787. The company has a market capitalization of $377.59, a price-to-earnings ratio of -18.23, a PEG ratio of 3.97 and a beta of -0.32. 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.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Primo Water had a negative return on equity of 32.85% and a negative net margin of 8.17%. The business had revenue of $82.21 million during the quarter, compared to analyst estimates of $77.60 million. sell-side analysts forecast that Primo Water will post -0.26 EPS for the current fiscal year.

In other news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction dated 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 link. Also, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction dated 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 sale, 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 have sold 130,295 shares of company stock worth $1,636,440 over the last three months. Company insiders own 15.80% of the company’s stock.

Large investors have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in Primo Water by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock worth $570,000 after acquiring an additional 800 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Primo Water by 1.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 129,086 shares of the company’s stock worth $1,639,000 after purchasing an additional 1,620 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Primo Water by 16.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after purchasing an additional 2,028 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Primo Water by 17.1% during the 2nd quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock worth $182,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Primo Water by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock worth $1,302,000 after acquiring an additional 2,490 shares during the period. 70.07% of the stock is currently owned by institutional investors.

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About Primo Water

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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