The stock of Primo Water Corporation (NASDAQ:PRMW) hit a new 52-week high and has $19.24 target or 45.00% above today’s $13.27 share price. The 9 months bullish chart indicates low risk for the $341.68 million company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $19.24 price target is reached, the company will be worth $153.76 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 312,112 shares traded hands or 202.58% up from the average. Primo Water Corporation (NASDAQ:PRMW) has risen 34.05% since March 7, 2016 and is uptrending. It has outperformed by 26.46% the S&P500.
Analysts await Primo Water Corporation (NASDAQ:PRMW) to report earnings on November, 3. They expect $0.08 earnings per share, up 60.00% or $0.03 from last year’s $0.05 per share. PRMW’s profit will be $2.06M for 41.47 P/E if the $0.08 EPS becomes a reality. After $0.09 actual earnings per share reported by Primo Water Corporation for the previous quarter, Wall Street now forecasts -11.11% negative EPS growth.
Primo Water Corporation (NASDAQ:PRMW) Ratings Coverage
Out of 2 analysts covering Primo Water (NASDAQ:PRMW), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Primo Water has been the topic of 4 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by Barrington Research given on Friday, October 30. Barrington Research upgraded Primo Water Corporation (NASDAQ:PRMW) on Tuesday, December 29 to “Outperform” rating. Zacks upgraded it to “Hold” rating and $7.25 target price in Wednesday, August 5 report.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 2 in Q2 2016. Its up 0.45, from 1.55 in 2016Q1. The ratio is positive, as 10 funds sold all Primo Water Corporation shares owned while 22 reduced positions. 27 funds bought stakes while 37 increased positions. They now own 16.09 million shares or 11.61% more from 14.42 million shares in 2016Q1.
Highbridge Cap Mngmt Limited Liability holds 10,061 shares or 0% of its portfolio. Da Davidson & has 0.01% invested in the company for 22,867 shares. Federated Pa holds 574 shares or 0% of its portfolio. Blackrock Japan Company Limited accumulated 5,329 shares or 0% of the stock. Acadian Asset Mgmt Ltd Limited Liability Company last reported 0.01% of its portfolio in the stock. Moreover, Teachers Inc has 0% invested in Primo Water Corporation (NASDAQ:PRMW) for 33,351 shares. Moreover, Fuller Thaler Asset Mgmt has 0% invested in Primo Water Corporation (NASDAQ:PRMW) for 5,500 shares. Qs Investors Ltd Liability Com accumulated 0% or 556 shares. Voya Investment Mgmt Lc last reported 0% of its portfolio in the stock. Northern Corporation accumulated 283,338 shares or 0% of the stock. Tiaa Cref Inv Management Lc holds 0% or 87,647 shares in its portfolio. Vanguard Grp Inc holds 960,859 shares or 0% of its portfolio. Thompson Davis Company Inc has invested 0.08% of its portfolio in Primo Water Corporation (NASDAQ:PRMW). Numeric Ltd Liability Corp, a Massachusetts-based fund reported 45,000 shares. Credit Suisse Ag has 0% invested in the company for 48,497 shares.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.84 million net activity. Shares for $477,283 were sold by WARNOCK DAVID L on Monday, May 2.
More recent Primo Water Corporation (NASDAQ:PRMW) news were published by: Globenewswire.com which released: “Primo Water to Acquire Glacier Water Services, Inc.” on October 10, 2016. Also Seekingalpha.com published the news titled: “Primo Water Corporation Is Turning Around” on September 23, 2013. Journalnow.com‘s news article titled: “Primo Water has cut 40 employees since buying unit” with publication date: April 17, 2012 was also an interesting one.
PRMW Company Profile
Primo Water Corporation, incorporated on October 20, 2004, is a well-known 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 Firm conducts its activities through two divisions: Primo Water (Water) and Primo Dispensers (Dispensers). The Water segment consists of the sale of multi-gallon purified bottled water (Exchange) and its self-service filtered drinking water (Refill). The Dispensers segment sells water dispensers that are designed to dispense Primo and other dispenser-compatible bottled water. The Company’s products are offered in each of the United States and in Canada at approximately 25,700 combined retail locations, including Lowe’s Home Improvement, Walmart, The Home Depot, Kmart, Meijer, Kroger, Food Lion, H-E-B Grocery, Sobeys and Walgreens. Exchange and Refill provide clients the ability of either exchanging empty bottles and purchasing full bottles or refilling the empty bottles at any participating retailer.
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