Barrington analyst Michael Petusky maintained a Buy rating on Primo Water Corp (NASDAQ: PRMW) today and set a price target of $21. The company’s shares closed yesterday at $16.60.
Petusky wrote:
“We are currently expecting third quarter revenue of $83.3 million. Management’s guidance for Primo’s top-line performance in the third quarter is $80.5- 83.5 million. The consensus estimate is $83.1 million. Our top-line estimate includes $72.4 million in water-related sales (both exchange and refill) versus the $71.7 million generated in last year’s comparable period and $10.9 million in dispenser sales versus the $10.5 million in revenue delivered in Q3/17.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 13.9% and a 61.2% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.
Currently, the analyst consensus on Primo Water Corp is a Moderate Buy with an average price target of $20.33.
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Based on Primo Water Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $451K. In comparison, last year the company had a net profit of $4.95 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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Primo Water Corp. is provider of multi-gallon purified bottled water, self-service refill water and water dispensers sold. It operates through the following segments: Refill, Exchange, and Dispensers.
