Primo Water (NYSE:PRMW) Research Coverage Started at William Blair

William Blair began coverage on shares of Primo Water (NYSE:PRMW) in a research note published on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Trading Up 0.3 %

NYSE PRMW opened at $27.60 on Thursday. Primo Water has a 12 month low of $12.92 and a 12 month high of $28.06. The stock has a market capitalization of $4.44 billion, a P/E ratio of 17.14, a PEG ratio of 1.89 and a beta of 1.11. The firm’s 50-day moving average is $24.54 and its two-hundred day moving average is $22.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. On average, sell-side analysts anticipate that Primo Water will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

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 $0.82 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Investors Weigh In On Primo Water

Large investors have recently modified their holdings of the company. Financial Advocates Investment Management acquired a new position in shares of Primo Water during the third quarter worth $225,000. Assenagon Asset Management S.A. purchased a new stake in Primo Water during the 3rd quarter worth about $437,000. Allspring Global Investments Holdings LLC boosted its position in shares of Primo Water by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock worth $96,647,000 after acquiring an additional 32,875 shares in the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 641 shares during the last quarter. Finally, Procyon Advisors LLC acquired a new stake in shares of Primo Water during the 3rd quarter worth about $451,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.