Deutsche Bank Aktiengesellschaft Raises Primo Water (NYSE:PRMW) Price Target to $20.00

Primo Water (NYSE:PRMW) had its price objective increased by stock analysts at Deutsche Bank Aktiengesellschaft from $17.00 to $20.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 6.54% from the company’s current price.

A number of other analysts have also weighed in on PRMW. JPMorgan Chase & Co. upped their target price on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. TD Securities dropped their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Finally, Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Primo Water Trading Up 2.0 %

NYSE:PRMW traded up $0.41 on Friday, reaching $21.40. 1,474,069 shares of the company’s stock were exchanged, compared to its average volume of 1,093,348. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. The business has a fifty day moving average of $18.10 and a 200-day moving average of $15.91. Primo Water has a 52-week low of $12.27 and a 52-week high of $23.11.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The business had revenue of $438.70 million for the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a return on equity of 8.55% and a net margin of 10.82%. As a group, analysts expect that Primo Water will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRMW. Vanguard Group Inc. boosted its position in Primo Water by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock worth $183,003,000 after acquiring an additional 248,774 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Primo Water by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock valued at $101,464,000 after purchasing an additional 116,453 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Primo Water by 32.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock worth $57,945,000 after buying an additional 937,235 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Primo Water by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock worth $67,439,000 after buying an additional 100,702 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Primo Water by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock valued at $40,844,000 after buying an additional 312,815 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Primo Water

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.