Primo Water (NYSE:PRMW) Sees Large Volume Increase – What’s Next?

12 Oct 2024, 11:30 by Tristan Rich · The Markets Daily

Shares of Primo Water Co. (NYSE:PRMW – Get Free Report) saw strong trading volume on Thursday . 622,330 shares traded hands during trading, a decline of 48% from the previous session’s volume of 1,201,540 shares.The stock last traded at $25.53 and had previously closed at $25.74.

Wall Street Analysts Forecast Growth

PRMW has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. TD Securities upped their target price on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Primo Water currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

View Our Latest Report on Primo Water

Primo Water Stock Up 2.9 %

The company has a market cap of $4.15 billion, a PE ratio of 16.38, a PEG ratio of 1.89 and a beta of 1.11. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average is $23.43 and its 200-day moving average is $21.62.

Primo Water (NYSE:PRMW – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Primo Water’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.09 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 annualized dividend and a yield of 1.39%. Primo Water’s dividend payout ratio (DPR) is 22.78%.

Hedge Funds Weigh In On Primo Water

A number of institutional investors have recently bought and sold shares of PRMW. GAMMA Investing LLC lifted its holdings in Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in shares of Primo Water during the 1st quarter valued at $27,000. Sound Income Strategies LLC bought a new position in Primo Water in the 3rd quarter worth $48,000. CWM LLC increased its stake in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in Primo Water during the first quarter valued at about $66,000. 87.71% of the stock is owned by institutional investors.

Primo Water Company Profile

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