Primo Water (NYSE:PRMW) Reaches New 1-Year High – Here’s What Happened

Primo Water Co. (NYSE:PRMW)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $27.81 and last traded at $27.58, with a volume of 17467 shares traded. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

A number of analysts have commented on PRMW shares. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primo Water currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Trading Down 0.5 %

The business’s 50-day moving average is $23.96 and its two-hundred day moving average is $21.98. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $4.43 billion, a PE ratio of 17.19, a PEG ratio of 1.89 and a beta of 1.11.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Institutional Investors Weigh In On Primo Water

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. raised its stake in Primo Water by 108.7% during the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock valued at $1,748,000 after buying an additional 50,000 shares in the last quarter. Jane Street Group LLC boosted its holdings in Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after purchasing an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. bought a new stake in Primo Water during the first quarter valued at $879,000. Tidal Investments LLC raised its holdings in shares of Primo Water by 471.2% during the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock worth $1,205,000 after purchasing an additional 54,569 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Primo Water in the 1st quarter worth about $874,000. 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.