Barrington Maintains a Buy Rating on Primo Water Corp (PRMW)

Barrington analyst Michael Petusky maintained a Buy rating on Primo Water Corp (PRMWResearch Report) today and set a price target of $18. The company’s shares closed yesterday at $15.40.

Petusky commented:

“We expect first quarter revenue of $70.7 million. Management’s guidance for Primo’s top-line performance in the quarter is $67.8-70.8 million. The consensus estimate is $69.8 million. Our top-line estimate includes $38.4 million in refill versus the $41.5 million generated in last year’s comparable period. Though we fully believe that Primo is well on its way to remediating its downtime issues in refill, it is worth remembering that a full fix is not expected until the end of the second quarter. We are modeling the company’s exchange business to generate $19.4 million versus last year’s comparable result of $18.3 million. Finally, we expect $12.9 million in dispenser sales versus the $13.9 million in revenue delivered in Q1/18, a result which we believe was significantly helped by special promotional activity at Wal-Mart.”

According to, Petusky is a 3-star analyst with an average return of 3.3% and a 50.0% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.

Primo Water Corp has an analyst consensus of Strong Buy, with a price target consensus of $18.80.

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Based on Primo Water Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.73 million. In comparison, last year the company had a net profit of $1.21 million.

Based on the recent corporate insider activity of 40 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.