Canaccord Genuity Keeps a Buy Rating on Primo Water (PRMW)


Canaccord Genuity analyst Derek Dley maintained a Buy rating on Primo Water (PRMW) yesterday and set a price target of $20.00. The company’s shares closed last Thursday at $14.78.

According to TipRanks.com, Dley is a 5-star analyst with an average return of 15.3% and a 59.7% success rate. Dley covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Canadian Tire, and Dollarama.

Currently, the analyst consensus on Primo Water is a Strong Buy with an average price target of $20.17, implying a 31.5% upside from current levels. In a report issued on February 17, TD Securities also maintained a Buy rating on the stock with a $20.00 price target.

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The company has a one-year high of $17.85 and a one-year low of $6.33. Currently, Primo Water has an average volume of 1.47M.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRMW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Primo Water Corp. engages in the manufacture, process, and distribution of beverages. It operates through the following business segments: Route Based Services; Coffee, Tea, and Extract Solutions; and All Other. The Route Based Services segment includes Aquaterra and Eden businesses. The Coffee, Tea, and Extract Solutions segment relates to the S&D business. The All Other segment manufactures, repacks, and markets carbonated soft drinks in Europe. The All Other segment focuses on Aimia, Decantae, and RCI concentrate businesses, Columbus, Georgia manufacturing facility, and other miscellaneous expenses. The company was founded in 1955 and is headquartered in Mississauga, Canada.

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