Primo Water Co. (NASDAQ:PRMW) – Equities researchers at Barrington Research increased their Q2 2017 earnings estimates for Primo Water in a research note issued to investors on Thursday. Barrington Research analyst M. Petusky now expects that the brokerage will earn $0.05 per share for the quarter, up from their previous estimate of $0.03. Barrington Research currently has a “Outperform” rating and a $16.50 price target on the stock. Barrington Research also issued estimates for Primo Water’s Q3 2017 earnings at $0.11 EPS, Q1 2018 earnings at $0.00 EPS, FY2018 earnings at $0.34 EPS and FY2019 earnings at $0.51 EPS.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Wednesday, March 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.25. The firm had revenue of $40.40 million for the quarter, compared to analyst estimates of $37.85 million. Primo Water had a net margin of 4.34% and a return on equity of 24.69%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday, January 13th. Lake Street Capital reiterated a “buy” rating and issued a $20.00 price target (up from $16.50) on shares of Primo Water in a research note on Thursday, March 16th. Finally, B. Riley reiterated a “buy” rating and issued a $16.50 price target on shares of Primo Water in a research note on Wednesday, February 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.25.
Primo Water (NASDAQ:PRMW) opened at 14.07 on Monday. The firm has a market cap of $366.41 million, a price-to-earnings ratio of 72.53 and a beta of -0.21. Primo Water has a 52-week low of $8.80 and a 52-week high of $15.39. The firm has a 50-day moving average of $14.44 and a 200 day moving average of $13.02.
A number of large investors have recently added to or reduced their stakes in PRMW. SG Capital Management LLC boosted its stake in Primo Water by 156.4% in the third quarter. SG Capital Management LLC now owns 525,700 shares of the company’s stock worth $6,377,000 after buying an additional 320,647 shares during the period. Russell Investments Group Ltd. acquired a new stake in Primo Water during the fourth quarter worth approximately $2,941,000. Cortina Asset Management LLC boosted its stake in Primo Water by 91.8% in the fourth quarter. Cortina Asset Management LLC now owns 432,436 shares of the company’s stock worth $5,310,000 after buying an additional 206,951 shares during the period. Axiom International Investors LLC DE boosted its stake in Primo Water by 128.1% in the fourth quarter. Axiom International Investors LLC DE now owns 335,319 shares of the company’s stock worth $4,118,000 after buying an additional 188,304 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Primo Water by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock worth $6,988,000 after buying an additional 130,127 shares during the period. Institutional investors own 56.78% of the company’s stock.
In other Primo Water news, VP David J. Mills sold 5,669 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $13.00, for a total value of $73,697.00. Following the completion of the sale, the vice president now directly owns 16,351 shares in the company, valued at $212,563. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 18.70% of the company’s stock.
About Primo Water
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).