After BMO Capital and Northland Securities gave Primo Water Corp (NASDAQ: PRMW) a Buy rating last month, the company received another Buy, this time from Barrington. Analyst Michael Petusky maintained a Buy rating on Primo Water Corp today and set a price target of $18. The company’s shares closed last Monday at $11.93, close to its 52-week low of $10.70.
Petusky commented:
“We agree and think that PRMW’s investment in technology alone should provide much of the tailwind towards achieving the company’s targeted growth for this business. Lastly, we also see an opportunity to improve refill gross margin over time and believe that 200-400 bps of improvement over the next two to three years is achievable.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 3.7% and a 49.4% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Primo Water Corp with a $17.25 average price target, implying a 37.0% upside from current levels. In a report issued on August 7, Imperial Capital also maintained a Buy rating on the stock with a $15 price target.
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The company has a one-year high of $20.62 and a one-year low of $10.70. Currently, Primo Water Corp has an average volume of 372.8K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRMW in relation to earlier this year.
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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.
