Primo Water (NYSE:PRMW) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Primo Water (NYSE:PRMW) in a research report issued on Tuesday. The firm set a “buy” rating on the stock.

Several other equities research analysts have also issued reports on the stock. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair initiated coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Performance

PRMW opened at $24.21 on Tuesday. The firm has a fifty day moving average price of $25.50 and a 200 day moving average price of $23.26. Primo Water has a 1 year low of $14.06 and a 1 year high of $28.06. The stock has a market cap of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Hedge Funds Weigh In On Primo Water

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares in the last quarter. Blue Trust Inc. boosted its stake in Primo Water by 52.1% during the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Primo Water during the 3rd quarter worth $48,000. CWM LLC grew its holdings in shares of Primo Water by 31.5% during the third quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after buying an additional 792 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of Primo Water in the second quarter valued at about $109,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Company Profile

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.