Primo Water (NYSE:PRMW) Price Target Raised to $21.00

Primo Water (NYSE:PRMW) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $19.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.58% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. TD Securities dropped their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

Primo Water Stock Performance

Shares of NYSE:PRMW traded up $0.24 during midday trading on Thursday, reaching $19.89. The company had a trading volume of 1,065,609 shares, compared to its average volume of 969,075. The stock has a market cap of $3.20 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.85 and a beta of 1.09. The company’s 50 day moving average price is $17.78 and its 200 day moving average price is $15.72. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88. Primo Water has a 52-week low of $12.27 and a 52-week high of $19.93.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, sell-side analysts anticipate that Primo Water will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Primo Water

Several large investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its stake in Primo Water by 18.1% in the 4th quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock worth $14,327,000 after acquiring an additional 145,966 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Primo Water by 2.0% during the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock worth $8,442,000 after purchasing an additional 11,920 shares in the last quarter. Walleye Capital LLC increased its position in shares of Primo Water by 761.6% in the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock worth $1,532,000 after purchasing an additional 98,144 shares during the last quarter. William Blair Investment Management LLC lifted its position in Primo Water by 10.8% during the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after purchasing an additional 265,057 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Primo Water by 49.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock worth $4,310,000 after buying an additional 103,103 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

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.