Benzinga  Dec 15  Comment 
Barrington Research initiated coverage on Primo Water Corporation (NASDAQ: PRMW) with an Outperform rating and $6.50 price target. Analyst Michael Petusky noted that “Primo’s water services are currently available in approximately 16,500...
Benzinga  Sep 22  Comment 
Analysts at Northland Securities initiated coverage on Primo Water (NASDAQ: PRMW) with a Outperform rating. The target price for Primo Water is set to $6.50. Primo Water's shares closed at $4.41 on Friday. MKM Partners initiated coverage on...
SeekingAlpha  Sep 12  Comment 
By InvestAlike: Primo Water (NASDAQ:PRMW) is a supplier of multi-gallon purified bottled water, self-service refill water and water dispensers in the US and Canada. The stock presently trades at $4.53 and has received an increment of 72% in just...
Benzinga  Sep 3  Comment 
In a note released Tuesday, Noble Financial initiated coverage on Primo Water (NASDAQ: PRMW) with a Buy rating and $6.50 price target. This mirrors coverage initiated last week by Lake Street Capital. The $6.50 price target provides nearly...
Benzinga  Aug 27  Comment 
Matt Blazei of Lake Street Capital Advisors believes that Primo Water (NASDAQ: PRMW) will benefit from a surge in demand as consumers continue to focus on health and wellness issues. Shares were initiated with a Buy rating and a $6.50 price...


Primo Water (NASDAQ:PRMW) makes and sells three- and five-gallon purified water containers and dispensers. These products are sold through major retailers across the United States. The company's business model encourages individuals to purchase the water dispenser and then to continually purchase refills for the water. Empty bottles can be exchanged at refilling centers for a voucher which gives a coupon to purchase another bottle. These empty bottles can be sanitized and reused up to 40 times. The company has approximately 7,200 exchange locations and 5,500 water dispenser locations.[1]

The company has entered into an agreement to purchase Culligan Store Sollutions LLC and Culligan of Canada. The company has a number of assets in reverse osmosis water filtration systems. In addition the company sells empty reusable water bottles that can be used at refilling machines. The total purchase price will be $105M and will consist of $60M in cash and $45M in common stock.[2]

The company's initial public offering of stock on the NASDAQ occurred on November 4, 2010. The company offered 8.3M shares each for $12. This was within the initial price range of $11-$13. The IPO raised a total of $100M. The lead underwriters of the deal were Nicolaus Weisel and BB&T Capital Markets.[3]

The company's total revenue has increased over the past 3 years. Its 2009 net revenue figure was $47M, which was a 34% increase over its 2008 figure of $35M. Despite this rise in revenue, the company has continued to generate a net loss. In 2009, the company reported -$11.8M. This was a decrease in the loss from its 2008 figure of -$19M.[4]


  1. PRMW S-1/A Oct 2010 Prospectus Summary "Our Business" pg 1
  2. PRMW S-1/A Oct 2010 Prospectus Summary "Culligan Refill Acquisition" pg 2
  3. Renaissance Capital - IPO Home "Primo Water Corporation prices IPO at $12, the midpoint of the range" 4 Nov 2010
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