Primo Water Corp. (NASDAQ:PRMW) had its target price raised by stock analysts at Barrington Research from $13.00 to $15.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 9.09% from the stock’s previous close.
Other analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Primo Water Corp. in a report on Friday, July 29th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Saturday, July 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.75.
Shares of Primo Water Corp. (NASDAQ:PRMW) opened at 13.75 on Tuesday. The company has a market capitalization of $357.91 million, a P/E ratio of 84.88 and a beta of 0.04. Primo Water Corp. has a one year low of $7.39 and a one year high of $13.86. The firm has a 50-day moving average of $11.92 and a 200-day moving average of $11.44.
Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The business had revenue of $34.40 million for the quarter, compared to analyst estimates of $33.86 million. During the same quarter in the prior year, the business posted $0.03 EPS. Primo Water Corp.’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that Primo Water Corp. will post $0.24 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. BlackRock Group LTD increased its stake in shares of Primo Water Corp. by 538.8% in the first quarter. BlackRock Group LTD now owns 96,308 shares of the company’s stock worth $972,000 after buying an additional 81,231 shares during the period. Menta Capital LLC purchased a new stake in shares of Primo Water Corp. during the first quarter worth about $226,000. Alpine Partners VI LLC purchased a new stake in shares of Primo Water Corp. during the first quarter worth about $106,000. Geode Capital Management LLC increased its stake in shares of Primo Water Corp. by 31.0% in the first quarter. Geode Capital Management LLC now owns 149,029 shares of the company’s stock worth $1,503,000 after buying an additional 35,225 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Primo Water Corp. by 2.2% in the first quarter. Wellington Management Group LLP now owns 672,450 shares of the company’s stock worth $6,785,000 after buying an additional 14,350 shares during the period. 64.59% of the stock is currently owned by hedge funds and other institutional investors.
About Primo Water Corp.