Primo Water Co. (NYSE:PRMW) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Primo Water Co. (NYSE:PRMW) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.83.

Several research firms recently weighed in on PRMW. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. William Blair assumed coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating for the company. Finally, StockNews.com started coverage on shares of Primo Water in a research note on Wednesday. They issued a “buy” rating on the stock.

Primo Water Price Performance

Shares of PRMW stock opened at $24.21 on Thursday. Primo Water has a 52 week low of $14.06 and a 52 week high of $28.06. The stock has a market capitalization of $3.88 billion, a PE ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock’s fifty day moving average is $25.52 and its 200-day moving average is $23.13.

Primo Water Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.82 per share. 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 presently 22.36%.

Institutional Investors Weigh In On Primo Water

Several large investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Primo Water by 18.9% during the 3rd quarter. FMR LLC now owns 17,432,920 shares of the company’s stock valued at $440,181,000 after purchasing an additional 2,765,388 shares in the last quarter. Triasima Portfolio Management inc. bought a new position in Primo Water in the second quarter valued at approximately $12,732,000. Cinctive Capital Management LP boosted its holdings in shares of Primo Water by 219.1% in the third quarter. Cinctive Capital Management LP now owns 714,389 shares of the company’s stock valued at $18,038,000 after buying an additional 490,486 shares during the period. Acadian Asset Management LLC increased its position in shares of Primo Water by 559.2% during the second quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after acquiring an additional 464,232 shares in the last quarter. Finally, Intact Investment Management Inc. raised its holdings in shares of Primo Water by 43.6% during the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock worth $34,849,000 after acquiring an additional 419,370 shares during the period. 87.71% of the stock is currently owned by 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.