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Stock in Focus: Primo Water Corp (PRMW)

-- Sunday, October 3, 2021, 13:28 --

Company Profile:

Primo Water Corporation provides home and office bottled water delivery and water filtration services in North America and Europe. It offers water dispensers, purified bottled water, and self-service refill drinking water; and coffee and tea, and sparkling water beverages from Sparkling Ice, as well as other premium water products. The company provides its services to residences, businesses, and small and large retailers. It serves approximately 2.5 million customers through its platform, sales and distribution facilities, and fleets, as well as through wholesalers and distributors. The company was formerly known as Cott Corporation and changed its name to Primo Water Corporation in March 2020. The company is based in Tampa, Florida.

Recent News:

On Sept. 15, 2021, the company announced that it has entered into an agreement to purchase a minority interest in Sipple Hydration Stations, an innovative network of hydration stations in the UK providing purified & super chilled premium water refills.

For the second quarter ended July 3, 2021, the company reported revenue increased 15% to $526 million compared to $457 million for the second quarter of 2020. Adjusted net income and adjusted net income per diluted share were $28 million and $0.17, respectively, compared to adjusted net income and adjusted net income per diluted share of $13 million and $0.08 for the second quarter of 2020, respectively.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

PRMW’s strengths can be seen in its better profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in the Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 43.15 with positive bias. We rate Primo Water Corp (PRMW) a STRONG BUY.

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