Primo Water Co. (NYSE:PRMW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Primo Water Co. (NYSE:PRMW) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.83.

PRMW has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com initiated coverage on Primo Water in a report on Wednesday. They set a “buy” rating on the stock. Finally, William Blair started coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company.

Primo Water Trading Down 0.9 %

NYSE PRMW opened at $24.21 on Thursday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water has a 1-year low of $14.06 and a 1-year high of $28.06. The firm’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $23.13. The company has a market capitalization of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Primo Water Announces Dividend

The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio is 22.36%.

Institutional Trading of Primo Water

Hedge funds have recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water during the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in Primo Water by 375.9% during the third 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. grew its stake in shares of Primo Water by 52.1% in 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 period. Sound Income Strategies LLC acquired a new position in shares of Primo Water in the 3rd quarter worth approximately $48,000. Finally, Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter worth approximately $66,000. 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.