Primo Water Co. (PRMW) Given Consensus Recommendation of “Buy” by Brokerages

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Primo Water Co. (NASDAQ:PRMW) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $19.75.

A number of equities research analysts have recently weighed in on PRMW shares. Imperial Capital started coverage on Primo Water in a report on Friday, November 16th. They set an “outperform” rating and a $18.00 price target on the stock. BMO Capital Markets raised Primo Water from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $15.00 to $17.00 in a report on Friday, November 16th. They noted that the move was a valuation call. Zacks Investment Research raised Primo Water from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. ValuEngine raised Primo Water from a “hold” rating to a “buy” rating in a report on Saturday, December 15th. Finally, BidaskClub raised Primo Water from a “hold” rating to a “buy” rating in a report on Tuesday, December 25th.

In other news, VP Michael Cauthen sold 1,859 shares of Primo Water stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $14.53, for a total transaction of $27,011.27. Following the sale, the vice president now owns 5,456 shares of the company’s stock, valued at $79,275.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Primo Water by 10.5% during the fourth quarter. BlackRock Inc. now owns 2,444,917 shares of the company’s stock worth $34,253,000 after purchasing an additional 233,001 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Primo Water by 52.7% during the fourth quarter. Nuveen Asset Management LLC now owns 2,001,988 shares of the company’s stock worth $28,048,000 after purchasing an additional 690,521 shares in the last quarter. Vanguard Group Inc. raised its holdings in Primo Water by 3.6% during the third quarter. Vanguard Group Inc. now owns 1,460,570 shares of the company’s stock worth $26,363,000 after purchasing an additional 51,372 shares in the last quarter. Vanguard Group Inc raised its holdings in Primo Water by 3.6% during the third quarter. Vanguard Group Inc now owns 1,460,570 shares of the company’s stock worth $26,363,000 after purchasing an additional 51,372 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Primo Water by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,257,632 shares of the company’s stock worth $17,619,000 after purchasing an additional 44,543 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

PRMW opened at $15.29 on Friday. The company has a market cap of $602.17 million, a PE ratio of 44.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.43. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.89. Primo Water has a twelve month low of $11.16 and a twelve month high of $20.72.

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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