Equities analysts predict that Primo Water Co. (NASDAQ:PRMW) will announce $70.00 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Primo Water’s earnings, with the lowest sales estimate coming in at $69.30 million and the highest estimate coming in at $70.69 million. Primo Water reported sales of $73.66 million in the same quarter last year, which indicates a negative year over year growth rate of 5%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 14th.
On average, analysts expect that Primo Water will report full year sales of $316.95 million for the current financial year, with estimates ranging from $315.00 million to $320.00 million. For the next year, analysts forecast that the firm will report sales of $335.06 million, with estimates ranging from $332.20 million to $337.29 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Primo Water.
PRMW has been the subject of several recent analyst reports. ValuEngine raised Primo Water from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. BidaskClub lowered Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Imperial Capital restated an “outperform” rating and set a $20.00 price target on shares of Primo Water in a research report on Friday, March 8th. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, BMO Capital Markets raised their price target on Primo Water from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.20.
PRMW stock traded down $0.43 during midday trading on Thursday, hitting $14.77. 296,815 shares of the company’s stock were exchanged, compared to its average volume of 417,589. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.89. The stock has a market cap of $574.92 million, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. Primo Water has a 1-year low of $11.40 and a 1-year high of $20.72.
In related news, VP Michael Cauthen sold 1,859 shares of Primo Water stock in a transaction on Monday, January 7th. The stock was sold at an average price of $14.53, for a total value of $27,011.27. Following the completion of the transaction, the vice president now directly owns 5,456 shares in the company, valued at $79,275.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its holdings in Primo Water by 229.7% in the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock valued at $25,000 after purchasing an additional 958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Primo Water in the fourth quarter valued at $36,000. Legal & General Group Plc boosted its holdings in Primo Water by 24.3% in the third quarter. Legal & General Group Plc now owns 4,917 shares of the company’s stock valued at $89,000 after purchasing an additional 962 shares during the period. Great West Life Assurance Co. Can purchased a new position in Primo Water in the fourth quarter valued at $92,000. Finally, HRT Financial LLC purchased a new position in Primo Water in the fourth quarter valued at $153,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.
About Primo Water
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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