Primo Water (NASDAQ:PRMW) had its price objective reduced by B. Riley from $22.00 to $19.00 in a report issued on Wednesday morning, MarketBeat reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Primo Water’s Q1 2019 earnings at $0.08 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.24 EPS and Q4 2019 earnings at $0.14 EPS.

A number of other equities analysts also recently issued reports on the company. Barrington Research reiterated a buy rating and set a $20.00 price target on shares of Primo Water in a research note on Wednesday. BidaskClub upgraded Primo Water from a sell rating to a hold rating in a research note on Wednesday, October 24th. BMO Capital Markets cut their target price on Primo Water from $18.00 to $17.00 and set a market perform rating on the stock in a research note on Wednesday, October 24th. Finally, Zacks Investment Research downgraded Primo Water from a strong-buy rating to a hold rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $19.50.

PRMW stock traded down $0.02 during mid-day trading on Wednesday, reaching $14.63. 461,717 shares of the company traded hands, compared to its average volume of 320,316. The company has a market capitalization of $541.68 million, a P/E ratio of -52.25, a price-to-earnings-growth ratio of 3.15 and a beta of 0.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06. Primo Water has a fifty-two week low of $11.16 and a fifty-two week high of $20.72.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $81.80 million during the quarter, compared to the consensus estimate of $83.26 million. Primo Water had a positive return on equity of 10.19% and a negative net margin of 17.88%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Primo Water will post 0.38 earnings per share for the current fiscal year.

In other news, Director Charles A. Norris sold 148,678 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $20.18, for a total value of $3,000,322.04. Following the transaction, the director now owns 4,282 shares in the company, valued at approximately $86,410.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Cauthen sold 1,377 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $19.56, for a total value of $26,934.12. Following the completion of the transaction, the vice president now owns 6,159 shares in the company, valued at approximately $120,470.04. The disclosure for this sale can be found here. Insiders sold a total of 243,509 shares of company stock worth $4,895,288 in the last 90 days. Company insiders own 13.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Primo Water by 15.9% in the 2nd quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock worth $463,000 after buying an additional 3,626 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Primo Water in the second quarter valued at approximately $208,000. American International Group Inc. lifted its stake in Primo Water by 23.0% in the third quarter. American International Group Inc. now owns 21,752 shares of the company’s stock valued at $393,000 after purchasing an additional 4,066 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Primo Water by 1.4% in the third quarter. Eagle Asset Management Inc. now owns 362,221 shares of the company’s stock valued at $6,538,000 after purchasing an additional 4,919 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Primo Water by 3.2% in the first quarter. Allianz Asset Management GmbH now owns 247,576 shares of the company’s stock valued at $2,899,000 after purchasing an additional 7,649 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

About Primo Water

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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