Primo Water (NYSE:PRMW) Upgraded at StockNews.com

StockNews.com upgraded shares of Primo Water (NYSE:PRMW) from a hold rating to a buy rating in a research note issued to investors on Thursday.

PRMW has been the subject of several other research reports. Royal Bank of Canada reissued 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 cut Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, William Blair began coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Trading Down 0.9 %

Shares of NYSE PRMW traded down $0.23 during mid-day trading on Thursday, hitting $24.21. 11,422,300 shares of the company traded hands, compared to its average volume of 1,915,558. Primo Water has a 1 year low of $14.06 and a 1 year high of $28.06. The business has a 50 day moving average of $25.46 and a two-hundred day moving average of $22.96. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Water Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued 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 dividend payout ratio is 22.36%.

Institutional Trading of Primo Water

A number of hedge funds and other institutional investors have recently made changes to their positions in PRMW. Cedar Wealth Management LLC bought a new stake in shares of Primo Water during the 1st quarter worth about $27,000. GAMMA Investing LLC grew its stake in 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 during the period. Blue Trust Inc. increased its stake in Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after purchasing an additional 641 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Primo Water in the third quarter worth approximately $48,000. Finally, Crewe Advisors LLC bought a new stake in shares of Primo Water in the 1st quarter worth $66,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.