Stocks of Primo Water Corporation (NYSE:PRMW) traded higher last session on Wall Street, up 1.77% to $12.65.
According to the data, Primo Water Corporation (NYSE:PRMW) has 9 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $16.00, we find $20.00. Given the previous closing price of $12.43, this indicates a potential upside of 60.9 percent. PRMW stock price is now -7.14% away from the 50-day moving average and -12.79% away from the 200-day moving average. The market capitalization of the company currently stands at $2.02B.
A total of 2 analysts have issued a hold rating and 6 have given it a buy rating. Brokers who have rated the stock have averaged $19.88 as their price target over the next twelve months.
In other news, FOWDEN JEREMY S G, Director sold 47,630 shares of the company’s stock on Feb 08. The stock was sold for $762,685 at an average price of $16.01. Upon completion of the transaction, the Director now directly owns 1,268,770 shares in the company, valued at $16.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 09, Director FOWDEN JEREMY S G sold 90,463 shares of the business’s stock. A total of $1,458,291 was realized by selling the stock at an average price of $16.12. This leaves the insider owning 1,268,770 shares of the company worth $16.05 million. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PRMW stock. A new stake in Primo Water Corporation shares was purchased by CONVERSANT CAPITAL LLC during the first quarter worth $5,582,000. INTACT INVESTMENT MANAGEMENT INC. invested $5,060,000 in shares of PRMW during the first quarter. In the first quarter, FOUNDRY PARTNERS, LLC acquired a new stake in Primo Water Corporation valued at approximately $4,251,000. SOVIERO ASSET MANAGEMENT, LP acquired a new stake in PRMW for approximately $2,783,000. CORBYN INVESTMENT MANAGEMENT INC/MD purchased a new stake in PRMW valued at around $2,470,000 in the second quarter. In total, there are 326 active investors with 74.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $12.48 for Primo Water Corporation (NYSE: PRMW). During the past 12 months, Primo Water Corporation has had a low of $12.15 and a high of $16.47. As of last week, the company has a debt-to-equity ratio of 1.24, a current ratio of 0.70, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $3.70B, which is based on a 49.80 price-to-earnings ratio, a 2.77 price-to-earnings-growth ratio, and a beta of 1.03. The fifty day moving average price for PRMW is $13.57 and a two-hundred day moving average price translates $14.50 for the stock.
The latest earnings results from Primo Water Corporation (NYSE: PRMW) was released for Mar, 2023. According to the Beverages – Non-Alcoholic Company, earnings per share came in at $0.09, beating analysts’ expectations of $0.08 by 0.01. This compares to -$0.04 EPS in the same period last year. The net profit margin was 1.90% and return on equity was 3.30% for PRMW. The company reported revenue of $546.5 million for the quarter, compared to $526.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.88 percent. For the current quarter, analysts expect PRMW to generate $586.2M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/14/2023. Investors who held shares on 06/02/2023 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 2.53% percent yield. There was an ex-dividend date of 06/01/2023 for this dividend. In terms of dividend payout ratio, PRMW is presently at 119.10%.
Primo Water Corporation(PRMW) Company Profile
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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud’eau, and Mey Eden brands in Europe and Israel. It sells its products through retailers and online at various price points. The company was formerly known as Cott Corporation and changed its name to Primo Water Corporation in March 2020. Primo Water Corporation was incorporated in 1955 and is headquartered in Tampa, Florida.
