Gains May Be On The Menu For Primo Water Corporation (NYSE: PRMW)

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    Russell Investment Management LLC recently announced the acquisition of new stake in Primo Water Corporation (NYSE:PRMW). The institutional investor has increased its shareholding in the Consumer Defensive company by 33.92% to 12.23 million shares with purchase of 3.1 million shares. This fresh investment now brings its stake to 7.65% valued currently at $168.12 million. In addition, P2 Capital Partners LLC raised its holdings by 3.55 million to 8.06 million shares. And The Vanguard Group, Inc. has lifted its position by 9.32% or 0.44 million shares – to 5.21 million shares.

    With over 0.67 million Primo Water Corporation (PRMW) shares trading Friday and a closing price of $13.92 on the day, the dollar volume was approximately $9.37 million. The shares have shown a positive weekly performance of 1.53% and its price on 07/24/20 lost nearly -0.71%. Currently, there are 141.14M common shares owned by the public and among those 135.40M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for PRMW have a consensus price objective of $15.05. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $12.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Primo Water Corporation stock is 3.00 for the next 12 months. The average price target is 4.0% above its last price level and an upside to the estimated low will see the stock lose -11.36% over that period. But an upside of 22.67% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.

    Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 812,685 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 262,282 shares.

    Shares of Primo Water Corporation (NYSE: PRMW) opened at $13.94, down -$0.08 from a prior closing price of $14.02. However, the script later closed the day at $13.92, down -0.71%. The company’s stock has a 5-day price change of 1.53% and 43.06% over the past three months. PRMW shares are trading 1.75% year to date (YTD), with the 12-month market performance up to 8.16% higher. It has a 12-month low price of $6.33 and touched a high of $16.00 over the same period. Currently, 0.67 million shares have been traded, compared to an average intraday trading volume of 2.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.45%, 7.96%, and 9.56% respectively.

    Institutional ownership of Primo Water Corporation (NYSE: PRMW) shares accounts for 74.30% of the company’s 141.14M shares outstanding. Mutual fund holders own 42.78%, while other institutional holders and individual stakeholders account for 46.62% and 2.59% respectively.

    It has a market capitalization of $2.24B and a beta (3y monthly) value of 1.20. The earnings-per-share (ttm) stands at -$0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.68% over the week and 2.64% over the month.

    Analysts forecast that Primo Water Corporation (PRMW) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -100.30%, and 94.22% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to -15.00% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Primo Water Corporation (PRMW) as a “Hold” at a consensus score of 3.00. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 4 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the PRMW, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on April 20, 2020, with the firm’s price target at $12. BMO Capital Markets coverage for the Primo Water Corporation (PRMW) stock in a research note released on January 14, 2020 offered a Market Perform rating with a price target of . Lake Street was of a view on November 06, 2019 that the stock is Hold, while B. Riley FBR gave the stock Buy rating on September 06, 2019, issuing a price target of $18. Imperial Capital on their part issued Outperform rating on June 18, 2019.

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