Primo Water Corporation (NYSE:PRMW) finished Wednesday with a subtraction of -$0.07 to close at $13.92, a downside of -0.50 percent. An average of 1,241,720 shares of common stock have been traded in the last five days. There was a fall of -$0.51 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 998,820 shares traded, while the 50-day average volume stands at 968,182.
PRMW stock has decreased by -8.00% in the last month. The company shares reached their 1-month lowest point of $13.81 on 09/26/23. With the stock rallying to its 52-week high on 02/17/23, shares of the company touched a low of $12.27 and a high of $16.47 in 52 weeks. It has reached a new high 5 times so far this year and lost -10.42% or -$1.62 in price. In spite of this, the price is down -15.48% from the 52-week high.
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Insider Transactions
PRMW stock investors should be aware that Primo Water Corporation (PRMW) stock had its last reported insider trading activity 232 days ago on Feb 08. In this transaction, the insider spent $762,685. Director, FOWDEN JEREMY S G, disposed of 90,463 shares at a price of $16.12 on Jan 09. The insider now owns more than $1,458,291 worth of shares. Prior to that, Director FOWDEN JEREMY S G went on to Sale 3,760 shares at $16.00 each on Jan 06. An amount of $60,159 was transacted.
Valuation Metrics
Primo Water Corporation (PRMW) has a trailing price-to-earnings (P/E) ratio of 26.05. The stock’s beta is 1.05. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.98, the price-to-book (PB) ratio at 1.75, and the price-to-cash flow ratio at 25.42.
The company has a payout ratio of 158.64%. The company’s most recent quarterly dividend payment was $0.08 a share, without any change from last year. Its latest increase dividend $0.01 reported on Wednesday February 22 2023.
Financial Health
The quick ratio of Primo Water Corporation for the three months ended June 29 was 0.62, and the current ratio was 0.78, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.16 and a total debt to equity ratio of 1.38 for the quarter ending June 29. Its gross profit as reported stood at $1.29 billion compared to revenue of $2.22 billion.
Earnings Surprise
For the three-month period that ended June 29, Primo Water Corporation had $1.29 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $21.3 million in the quarter, while revenues of $5.8 million were grew 205.63%. The analyst consensus anticipated Primo Water Corporation’s latest quarter earnings to come in at $0.2 per share, but it turned out to be $0.24, a 20.00% surprise. For the quarter, EBITDA amounted to $111.4 million. Shareholders own equity worth $159.38 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Primo Water Corporation (PRMW) price momentum. RSI 9-day as of the close on 27 September was 25.51%, suggesting the stock is oversold, with historical volatility in this time frame at 12.21%.
As of today, PRMW’s price is $14.10 -3.53% or -$0.51 from its 5-day moving average. PRMW is currently trading -8.78% lower than its 20-day SMA and -3.73% lower than its 100-day SMA. However, the stock’s current price level is +4.35% above the SMA50 and -9.84% below the SMA200.
The stochastic %K and %D were 13.62% and 10.50%, respectively, and the average true range (ATR) was 0.29. With the 14-day stochastic at 8.59% and the average true range at 0.29, the RSI (14) stands at 33.47%. The stock has reached -0.29 on the 9-day MACD Oscillator while the 14-day reading was at -0.44.
Analyst Ratings
CIBC downgraded Primo Water Corporation (NYSE: PRMW) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sector outperform. The consensus rating for Primo Water Corporation (PRMW) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PRMW, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.
