Primo Water (PRMW) Hits New 1-Year High at $18.08

Shares of Primo Water Co. (NASDAQ:PRMW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.08 and last traded at $17.93, with a volume of 6621 shares changing hands. The stock had previously closed at $17.74.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Primo Water from a “buy” rating to a “strong-buy” rating in a report on Friday, June 1st. BMO Capital Markets increased their target price on Primo Water from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 24th. William Blair assumed coverage on Primo Water in a report on Thursday, May 24th. They issued an “outperform” rating for the company. Barrington Research restated a “buy” rating and issued a $20.00 target price on shares of Primo Water in a report on Wednesday, May 9th. Finally, ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Primo Water currently has an average rating of “Buy” and a consensus target price of $17.50.

The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.90 and a current ratio of 1.05. The company has a market capitalization of $553.70 million, a price-to-earnings ratio of -63.43, a price-to-earnings-growth ratio of 4.43 and a beta of -0.17.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. Primo Water had a net margin of 2.25% and a return on equity of 2.24%. The firm had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $67.00 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The business’s quarterly revenue was up 21.4% on a year-over-year basis. equities research analysts predict that Primo Water Co. will post 0.33 EPS for the current fiscal year.

In other news, CFO David J. Mills sold 5,934 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $13.50, for a total value of $80,109.00. Following the transaction, the chief financial officer now owns 79,624 shares in the company, valued at approximately $1,074,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Mills sold 2,336 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $15.00, for a total transaction of $35,040.00. Following the completion of the transaction, the chief financial officer now owns 64,682 shares in the company, valued at approximately $970,230. The disclosure for this sale can be found here. Insiders sold a total of 27,618 shares of company stock worth $387,780 in the last quarter. Company insiders own 13.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Primo Water by 8.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 53,205 shares of the company’s stock worth $669,000 after purchasing an additional 4,005 shares during the period. D.A. Davidson & CO. increased its holdings in Primo Water by 13.3% in the 1st quarter. D.A. Davidson & CO. now owns 35,290 shares of the company’s stock worth $413,000 after acquiring an additional 4,145 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Primo Water by 23.7% in the 1st quarter. Thompson Davis & CO. Inc. now owns 21,625 shares of the company’s stock worth $253,000 after acquiring an additional 4,150 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Primo Water by 5.6% in the 4th quarter. Bank of New York Mellon Corp now owns 110,997 shares of the company’s stock worth $1,395,000 after acquiring an additional 5,857 shares in the last quarter. Finally, 1492 Capital Management LLC increased its holdings in Primo Water by 10.0% in the 4th quarter. 1492 Capital Management LLC now owns 71,479 shares of the company’s stock worth $898,000 after acquiring an additional 6,484 shares in the last quarter. Hedge funds and other institutional investors own 70.27% 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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