In a report released today, Pavel Molchanov from Raymond James reiterated a Buy rating on Primo Water (PRMW), with a price target of $18.00. The company’s shares closed last Thursday at $14.00.
According to TipRanks.com, Molchanov is a 4-star analyst with an average return of 6.8% and a 56.2% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Maxeon Solar Technologies, and Nextera Energy Partners.
Primo Water has an analyst consensus of Strong Buy, with a price target consensus of $17.60, representing a 30.1% upside. In a report issued on October 28, Canaccord Genuity also maintained a Buy rating on the stock with a $17.00 price target.
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Based on Primo Water’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $457 million and GAAP net loss of $136 million. In comparison, last year the company earned revenue of $456 million and had a net profit of $4.4 million.
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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.
