Primo Water (NYSE:PRMW) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Primo Water (NYSE:PRMW) from a hold rating to a buy rating in a report published on Thursday morning.

Several other analysts also recently issued reports on PRMW. Royal Bank of Canada restated an “outperform” rating and set 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 report on Wednesday, October 2nd. Finally, William Blair began coverage on shares of Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

PRMW opened at $24.21 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $25.47 and its 200 day moving average price is $23.06. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Primo Water Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders 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 dividend yield of 1.3%. Primo Water’s payout ratio is 22.36%.

Hedge Funds Weigh In On Primo Water

Large investors have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. increased its position in shares of Primo Water by 108.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after purchasing an additional 50,000 shares during the period. Jane Street Group LLC grew its holdings in Primo Water by 170.4% during the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after acquiring an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. acquired a new stake in Primo Water in the 1st quarter valued at about $879,000. Intact Investment Management Inc. lifted its holdings in Primo Water by 43.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after acquiring an additional 419,370 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after purchasing an additional 54,569 shares in the last quarter. Institutional investors and hedge funds 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.