Raymond James slashes price target on Primo Water Corporation [PRMW] – find out why.

Primo Water Corporation [NYSE: PRMW] closed the trading session at $15.82 on 12/23/20. The day’s price range saw the stock hit a low of $15.61, while the highest price level was $15.855. The company report on December 22, 2020 that Over $380 million invested by the Government of Canada in 2020 for a stronger Quebec after the crisis.

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The support offered by Canada Economic Development for Quebec Regions has made it possible to ensure the sustainability and growth of businesses, to create and maintain over 31,365 jobs and to plan for post-COVID-19 recovery.

MONTRÉAL, Dec. 22, 2020 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED).

The stocks have a year to date performance of 15.64 percent and weekly performance of -0.32 percent. The stock has been moved at 9.86 percent over the last six months. The stock has performed 7.11 percent around the most recent 30 days and changed 15.39 percent over the most recent 3-months.

If compared to the average trading volume of 951.45K shares, PRMW reached to a volume of 2081176 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Primo Water Corporation [PRMW]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRMW shares is $17.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRMW stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Primo Water Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 22, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on April 20, 2020, representing the official price target for Primo Water Corporation stock. On November 06, 2019, analysts decreased their price target for PRMW shares from 18 to 14.

The Average True Range (ATR) for Primo Water Corporation is set at 0.32, with the Price to Sales ratio for PRMW stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 1.86, with the Price to Cash per share for the same quarter was set at 1.00. Price to Free Cash Flow for PRMW in the course of the last twelve months was 32.25 with Quick ratio for the last quarter at 0.70.

PRMW stock trade performance evaluation

Primo Water Corporation [PRMW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.32. With this latest performance, PRMW shares gained by 7.11% in over the last four-week period, additionally plugging by 9.86% over the last 6 months – not to mention a rise of 17.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRMW stock in for the last two-week period is set at 60.07, with the RSI for the last a single of trading hit 57.63, and the three-weeks RSI is set at 60.37 for Primo Water Corporation [PRMW]. The present Moving Average for the last 50 days of trading for this stock 14.69, while it was recorded at 15.78 for the last single week of trading, and 13.01 for the last 200 days.

Primo Water Corporation [PRMW]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Primo Water Corporation [PRMW] shares currently have an operating margin of +5.13 and a Gross Margin at +51.61. Primo Water Corporation’s Net Margin is presently recorded at +0.00.

Return on Total Capital for PRMW is now 4.67, given the latest momentum, and Return on Invested Capital for the company is 0.00. Return on Equity for this stock declined to -0.01, with Return on Assets sitting at 0.00. When it comes to the capital structure of this company, Primo Water Corporation [PRMW] has a Total Debt to Total Equity ratio set at 134.58. Additionally, PRMW Total Debt to Total Capital is recorded at 57.37, with Total Debt to Total Assets ending up at 46.29. Long-Term Debt to Equity for the company is recorded at 122.45, with the Long-Term Debt to Total Capital now at 52.20.

Reflecting on the efficiency of the workforce at the company, Primo Water Corporation [PRMW] managed to generate an average of -$11 per employee. Receivables Turnover for the company is 8.11 with a Total Asset Turnover recorded at a value of 0.73.Primo Water Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for Primo Water Corporation [PRMW] stock

With the latest financial reports released by the company, Primo Water Corporation posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 66.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRMW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Primo Water Corporation go to 23.70%.

Primo Water Corporation [PRMW]: Insider Ownership positions

There are presently around $2,299 million, or 74.30% of PRMW stock, in the hands of institutional investors. The top three institutional holders of PRMW stocks are: NITORUM CAPITAL, L.P. with ownership of 10,546,115, which is approximately 1.192% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 9,403,652 shares of the stock with an approximate value of $148.77 million in PRMW stocks shares; and P2 CAPITAL PARTNERS, LLC, currently with $127.54 million in PRMW stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Primo Water Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 77 institutional holders increased their position in Primo Water Corporation [NYSE:PRMW] by around 11,675,703 shares. Additionally, 99 investors decreased positions by around 16,748,317 shares, while 28 investors held positions by with 116,929,645 shares. The mentioned changes placed institutional holdings at 145,353,665 shares, according to the latest SEC report filing. PRMW stock had 22 new institutional investments in for a total of 1,876,532 shares, while 22 institutional investors sold positions of 2,598,698 shares during the same period.

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