Wed Sep 25 08:20:54 UTC 2024: ## Primo Water Stock Receives “Moderate Buy” Rating Amidst Positive Analyst Sentiment

**New York, NY** – Primo Water Co. (NYSE:PRMW) has garnered a “Moderate Buy” recommendation from analysts, according to MarketBeat.com. This rating is based on five research firms covering the company, with four issuing buy recommendations and one issuing a hold. The average price target for the stock over the next year sits at $25.83.

Recent analyst activity has been largely positive, with several firms raising their price targets and reiterating their buy ratings on PRMW. JPMorgan Chase & Co. boosted their target to $26.00, TD Securities raised theirs to $32.00, and CIBC increased their target to $26.00. Royal Bank of Canada maintained an “outperform” rating and a $30.00 price target. However, StockNews.com downgraded the stock from “buy” to “hold.”

Primo Water recently exceeded earnings expectations for the second quarter, reporting earnings per share of $0.26 compared to analysts’ estimates of $0.24. The company also saw revenue surpass expectations, reaching $485.00 million against a projected $477.40 million. The company’s quarterly revenue saw a 7.7% year-over-year increase.

The company also announced a quarterly dividend of $0.09 per share, payable on September 5th. This translates to an annualized dividend of $0.36 and a yield of 1.41%.

Institutional investors have shown increasing interest in PRMW. Cedar Wealth Management LLC, CWM LLC, Crewe Advisors LLC, Clearstead Trust LLC, and Daiwa Securities Group Inc. all purchased new stakes in the company during recent quarters. Currently, 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Water Corporation is a leading provider of water solutions for both residential and commercial customers. Their offerings include bottled water, water dispensers, purified bottled water, self-service refill drinking water, and more. The company’s strong financial performance and positive analyst sentiment suggest a promising outlook for the company.

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