Barrington Research Downgrades Primo Water (NASDAQ:PRMW) to Market Perform

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Barrington Research lowered shares of Primo Water (NASDAQ:PRMW) from an outperform rating to a market perform rating in a research report released on Tuesday, The Fly reports.

A number of other analysts have also recently weighed in on the company. ValuEngine raised Primo Water from a hold rating to a buy rating in a research report on Tuesday, December 24th. B. Riley reaffirmed a neutral rating and set a $14.00 price objective on shares of Primo Water in a research report on Tuesday. BMO Capital Markets cut Primo Water from an outperform rating to a market perform rating and reduced their price target for the company from $18.00 to $14.00 in a report on Monday. BidaskClub cut Primo Water from a buy rating to a hold rating in a report on Friday, January 3rd. Finally, Zacks Investment Research raised Primo Water from a sell rating to a hold rating in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $14.17.

Primo Water stock opened at $14.16 on Tuesday. Primo Water has a twelve month low of $9.54 and a twelve month high of $16.35. The stock has a 50 day moving average of $10.95 and a two-hundred day moving average of $12.00. The company has a current ratio of 0.92, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $435.12 million, a price-to-earnings ratio of 41.65, a PEG ratio of 3.66 and a beta of 0.72.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). Primo Water had a return on equity of 7.11% and a net margin of 1.29%. The company had revenue of $86.97 million for the quarter, compared to analyst estimates of $84.78 million. Equities analysts predict that Primo Water will post 0.12 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Primo Water by 176.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock valued at $25,000 after buying an additional 1,335 shares during the period. Boston Partners acquired a new stake in shares of Primo Water in the 2nd quarter valued at approximately $28,000. Usca Ria LLC acquired a new stake in shares of Primo Water in the 3rd quarter valued at approximately $31,000. Bank of Montreal Can lifted its holdings in shares of Primo Water by 26,645.5% in the 2nd quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after buying an additional 2,931 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Primo Water in the 3rd quarter valued at approximately $122,000. 85.68% of the stock is owned by institutional investors and hedge funds.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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Analyst Recommendations for Primo Water (NASDAQ:PRMW)

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