Primo Water (PRMW) Downgraded by ValuEngine

ValuEngine lowered shares of Primo Water (NASDAQ:PRMW) from a hold rating to a sell rating in a report released on Friday.

PRMW has been the subject of several other research reports. Zacks Investment Research raised Primo Water from a sell rating to a hold rating in a report on Wednesday, October 11th. BidaskClub downgraded Primo Water from a hold rating to a sell rating in a report on Thursday, December 14th. B. Riley reaffirmed a buy rating and set a $17.50 price target on shares of Primo Water in a report on Wednesday, November 8th. Finally, Barrington Research raised their price target on Primo Water from $17.00 to $19.00 and gave the company an outperform rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $17.10.

Shares of Primo Water (NASDAQ PRMW) opened at $12.34 on Friday. The company has a market capitalization of $377.58, a P/E ratio of -17.88, a PEG ratio of 3.97 and a beta of -0.32. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. Primo Water has a twelve month low of $10.47 and a twelve month high of $15.39.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $82.21 million during the quarter, compared to the consensus estimate of $77.60 million. Primo Water had a negative return on equity of 32.85% and a negative net margin of 8.17%. analysts forecast that Primo Water will post -0.26 earnings per share for the current year.

In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $12.35, for a total transaction of $721,030.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Castaneda sold 30,569 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $13.00, for a total value of $397,397.00. Following the sale, the chief financial officer now directly owns 236,113 shares of the company’s stock, valued at approximately $3,069,469. The disclosure for this sale can be found here. Insiders have sold a total of 130,295 shares of company stock valued at $1,636,440 in the last ninety days. Insiders own 15.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in Primo Water by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock worth $570,000 after buying an additional 800 shares during the period. Parametric Portfolio Associates LLC increased its position in Primo Water by 1.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 129,086 shares of the company’s stock worth $1,639,000 after buying an additional 1,620 shares during the period. Voya Investment Management LLC increased its position in Primo Water by 16.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after buying an additional 2,028 shares during the period. Nationwide Fund Advisors increased its position in Primo Water by 17.1% during the 2nd quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock worth $182,000 after buying an additional 2,097 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Primo Water by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock worth $1,302,000 after buying an additional 2,490 shares during the period. Hedge funds and other institutional investors own 70.03% of the company’s stock.

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About Primo Water

Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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