Shares of Primo Water Co. (NYSE:PRMW - Get Free Report) saw strong trading volume on Friday . 10,030,067 shares were traded during trading, an increase of 716% from the previous session's volume of 1,228,735 shares.The stock last traded at $26.28 and had previously closed at $26.23.
Several research analysts have recently issued reports on the stock. Raymond James lowered shares of Primo Water from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 2nd. William Blair assumed coverage on shares of Primo Water in a research note on Thursday, October 24th. They issued an "outperform" rating on the stock. StockNews.com lowered shares of Primo Water from a "buy" rating to a "hold" rating in a research note on Sunday, October 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $25.83.
Read Our Latest Stock Report on PRMW
The stock's 50-day moving average price is $24.92 and its 200 day moving average price is $22.51. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a market cap of $4.20 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.
Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, equities analysts predict that Primo Water Co. will post 0.88 EPS for the current year.
The business also recently disclosed a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water's dividend payout ratio is currently 22.78%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Primo Water by 311.6% during the third quarter. Principal Financial Group Inc. now owns 66,664 shares of the company's stock worth $1,683,000 after purchasing an additional 50,468 shares during the period. Intact Investment Management Inc. lifted its position in Primo Water by 43.6% during the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company's stock worth $34,849,000 after purchasing an additional 419,370 shares during the period. Phillips Wealth Planners LLC bought a new stake in Primo Water during the third quarter worth about $214,000. Financial Advocates Investment Management bought a new stake in Primo Water during the third quarter worth about $225,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Primo Water in the third quarter worth about $437,000. Institutional investors own 87.71% of the company's stock.
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 essence water, filtration units, and coffee.
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