In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Primo Water Corp (PRMW), with a price target of $19. The company’s shares closed yesterday at $12.39.
Grondahl noted:
“We believe 2Q19 will be a low hurdle for PRMW and much higher in 3Q/4Q19, but PRMW expects to get help from Albertsons, continued strength from dispensers and IRC lift at WMT which is based on strong 1Q19 and Lowe’s to offset a flat Refill.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 20.7% and a 60.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Thunder Bridge Acquisition Ltd.
Primo Water Corp has an analyst consensus of Strong Buy, with a price target consensus of $18.33, which is a 47.9% upside from current levels. In a report issued on June 18, Imperial Capital also maintained a Buy rating on the stock with a $18 price target.
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Based on Primo Water Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.27 million. In comparison, last year the company had a net profit of $1.21 million.
Based on the recent corporate insider activity of 36 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.
