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Primo Water Corp (PRMW) Gets a Buy Rating from Barrington


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 opened today at $16.66.

Petusky commented:

“We believe that this test is likely going well in many locations and not as well as hoped in others. We suspect that fine‐tuning of the initiative will continue over the next several months to optimize the program. That said, we believe the company has, on balance, seen good results from its efforts at raising price in outdoor refill and will soon be instituting price increases within some of its indoor refill locations as well. We continue to think that the company’s price increase initiative could result in a $6‐8 million boost in annualized EBITDA once it is fully implemented and optimized.”

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 14.2% and a 59.2% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.

Primo Water Corp has an analyst consensus of Moderate Buy, with a price target consensus 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.