Primo Water Corporation (PRMW): Where It’s Really At

The stock of Primo Water Corporation (NASDAQ:PRMW) has been Reiterated to Outperform by Imperial Capital in its latest research note that was published on June 18. PRMW has given a price target of $18 by Imperial Capital, with other Wall Street analysts also giving their reports regarding the stock. Imperial Capital analysts again handed out a Outperform rating to PRMW stock but they lifted target price for the shares in a flash note to investors on March 08. The price target has been raised from $20 to $18. Analysts at BMO Capital Markets issued an upgrade fromMarket Perform to Outperform for the stock, in a research note that dated back to November 16.

Primo’s stock is covered by 6 analysts, with 2 of them rating the stock as Buy. It has been deemed to have strong buy by 4 of the analysts, none of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 4 of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that PRMW has an average analyst rating of 1.67.

Primo Water Corporation, which has current market capitalization of above $469 Million, published its last quarter earnings on June 30, 2019. The company was able to amass $70.05 million in revenue. This figure is $0.26 million more than what analysts had expected which was $69.79 million.

PRMW surged by $0.47 during the normal trading session on Tuesday and reaching a high of $12.62 during the day while it closed the day at $12.54. The Primo stock had a low trading volume of 0.40 million shares on that day, which is low compared to the average daily volume of 371.52M shares. PRMW has also gained 12.47% of its value over the past 7 days. However, the stock has surged by 2.96% in the 3 months of the year. Over the past six months meanwhile, it has lost 9.13% while it has lost 10.49% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -16.48% from its 3 months high price. However, taking another look at PRMW will indicate that it is trading +17.2% away from its 90-day low. Looking at the bigger picture, the Primo Water Corporation stock has dropped by -39.48% from its 52-week high while it has surged by +17.2% from its 52-week low price.

On August 12, 2019 Battle Emma S., Director bought 409 shares of the company. The average price for that transaction was $12.2 per share, which meant that Battle Emma S. spent $4989.8 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, BRENNER RICHARD A purchasing 1500 shares of this stock on August 09, 2019. The average purchasing price for the stock was $11.45 per share, with the purchased stock accruing $17175. Following this transaction, the Director BRENNER RICHARD A now holds 85350 shares of the company, which is worth around $1037003.

Primo has around 4 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $50 Billion. The Primo stock is bringing in revenue of over 12 months, which is roughly 79 Billion. Despite all that, Primo Water Corporation is seeing things progressing very much as their y-o-y quarterly revenue surged by 4.56%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 40.15%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 40.15%. Over the past 20 days, Primo’s Stochastic %K stood at 31.28% while its Stochastic %D was revealed to be 22.11%.