Primo Water (PRMW) Upgraded to Buy at BidaskClub

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

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Primo Water from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Saturday, August 11th. B. Riley increased their price target on shares of Primo Water from $20.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, June 26th. ValuEngine raised shares of Primo Water from a hold rating to a buy rating in a research report on Friday, May 11th. Barrington Research reaffirmed a buy rating and set a $20.00 price target on shares of Primo Water in a research report on Wednesday, May 9th. Finally, BMO Capital Markets increased their price target on shares of Primo Water from $15.00 to $16.00 and gave the stock a market perform rating in a research report on Thursday, May 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $20.75.

Shares of PRMW stock opened at $19.98 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. Primo Water has a one year low of $10.47 and a one year high of $20.09. The stock has a market cap of $735.44 million, a PE ratio of -71.36, a P/E/G ratio of 4.28 and a beta of -0.14.

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Primo Water by 5.6% in the fourth quarter. Bank of New York Mellon Corp now owns 110,997 shares of the company’s stock worth $1,395,000 after acquiring an additional 5,857 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Primo Water by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 228,524 shares of the company’s stock worth $2,872,000 after acquiring an additional 9,741 shares during the last quarter. Deutsche Bank AG lifted its holdings in Primo Water by 501.6% in the fourth quarter. Deutsche Bank AG now owns 166,834 shares of the company’s stock worth $2,096,000 after acquiring an additional 139,104 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Primo Water in the fourth quarter worth about $387,000. Finally, MetLife Investment Advisors LLC bought a new position in Primo Water in the fourth quarter worth about $138,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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