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Primo Water reports Q3 EPS 18c, consensus 21c
Reports Q3 revenue $81.8M, consensus $83.26M.
Primo Water raised guidance still looks conservative, says Barrington
Barrington analyst Michael Petusky raised his price target for Primo Water to $20 from $19 saying that while the Q4 results were "so-so," the next few years "look exciting." The company's increased outlook for 2018 still appears conservative, Petusky tells investors in a post-earnings research note. He believes a number of Primo's initiatives could drive above-average growth and margin expansion for at least the next three to five years. The analyst keeps an Outperform rating on the shares.
Primo Water initiated with an Outperform at William Blair
William Blair analyst Jon Andersen started Primo Water with an Outperform rating.
William Blair starts Primo with Outperform on growing bottled water market
William Blair analyst Jon Andersen initiated coverage of Primo Water with an Outperform rating. The U.S. bottled water market is $16B and forecast to grow at a compound annual rate of 8%, Andersen tells investors in a research note. He believes consumer trends and retail dynamics render Primo's target market of bulk bottled water as attractive. The analyst projects Primo can grow sales at a mid- to upper-single-digit rate and EBITDA at a low-double-digit rate over the next few years.
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