Primo Water (NASDAQ:PRMW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “

A number of other equities analysts also recently weighed in on the stock. ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. BidaskClub downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. BMO Capital Markets raised shares of Primo Water from a “market perform” rating to an “outperform” rating and raised their target price for the company from $15.00 to $17.00 in a research note on Friday, November 16th. They noted that the move was a valuation call. Imperial Capital started coverage on shares of Primo Water in a research note on Friday, November 16th. They set an “outperform” rating and a $18.00 target price for the company. Finally, B. Riley raised their target price on shares of Primo Water from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Primo Water presently has an average rating of “Buy” and a consensus target price of $20.20.

Shares of NASDAQ PRMW opened at $15.29 on Friday. Primo Water has a fifty-two week low of $11.16 and a fifty-two week high of $20.72. The company has a market cap of $595.16 million, a price-to-earnings ratio of 44.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.43. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.89.

In related news, VP Michael Cauthen sold 1,859 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $14.53, for a total value of $27,011.27. Following the sale, the vice president now owns 5,456 shares in the company, valued at $79,275.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Federated Investors Inc. PA boosted its stake in shares of Primo Water by 229.7% during the 3rd quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock worth $25,000 after acquiring an additional 958 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Primo Water during the 4th quarter worth $36,000. Legal & General Group Plc boosted its stake in shares of Primo Water by 19.0% during the 4th quarter. Legal & General Group Plc now owns 5,849 shares of the company’s stock worth $82,000 after acquiring an additional 932 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Primo Water during the 4th quarter worth $92,000. Finally, HRT Financial LLC purchased a new position in shares of Primo Water during the 4th quarter worth $153,000. Institutional investors own 81.04% of the company’s stock.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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