Primo Water (NYSE:PRMW) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Primo Water (NYSE:PRMW) in a research note issued to investors on Monday. The firm set a “buy” rating on the stock.

Several other analysts also recently weighed in on the company. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating for the company. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Down 0.9 %

Primo Water stock opened at $24.21 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06. The firm has a fifty day moving average price of $25.44 and a two-hundred day moving average price of $23.33. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares in the last quarter. Blue Trust Inc. lifted its holdings in Primo Water by 52.1% during the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after purchasing an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water in the third quarter valued at about $48,000. CWM LLC grew its stake in Primo Water by 31.5% during the third quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after buying an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of Primo Water during the second quarter worth approximately $109,000. Institutional investors own 87.71% of the company’s stock.

About Primo Water

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.