Jefferies Believes Primo Water (PRMW) Still Has Room to Grow

Jefferies analyst Kevin Grundy maintained a Buy rating on Primo Water (PRMW) on May 26. The company’s shares closed last Thursday at $17.63, close to its 52-week high of $17.85.

According to, Grundy is a 4-star analyst with an average return of 5.4% and a 64.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Constellation Brands, Duckhorn Portfolio, and Procter & Gamble.

Currently, the analyst consensus on Primo Water is a Strong Buy with an average price target of $19.50.

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Based on Primo Water’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $478 million and GAAP net loss of $10.2 million. In comparison, last year the company earned revenue of $474 million and had a net profit of $3.5 million.

Based on the recent corporate insider activity of 81 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.

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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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