In a report released today, Michael Petusky from Barrington maintained a Buy rating on Primo Water Corp (PRMW), with a price target of $18. The company’s shares opened today at $11.02, close to its 52-week low of $10.70.
Petusky commented:
“We had previously expected a strong positive revenue comp in this business in Q3, but are now modeling a slight decline. We do, however, expect positive comps to begin in Q4 and going forward.”
According to TipRanks.com, Petusky is a 3-star analyst with an average return of 2.9% and a 48.4% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.
Currently, the analyst consensus on Primo Water Corp is a Strong Buy with an average price target of $18, a 63.3% upside from current levels. In a report issued on July 31, BMO Capital also maintained a Buy rating on the stock with a $19 price target.
See today’s analyst top recommended stocks >>
Based on Primo Water Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $873K. In comparison, last year the company had a net profit of $451K.
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. 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.
