Everpure (NYSE:P) Downgraded by Wall Street Zen to Buy

Everpure (NYSE:P) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on P. Morgan Stanley raised their price objective on Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Barclays increased their price target on Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Citigroup downgraded shares of Everpure from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Thursday, May 14th. Lake Street Capital upped their price target on Everpure from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings initiated coverage on Everpure in a research note on Monday, April 20th. They set a “hold (c)” rating on the stock. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.32.

Everpure Stock Down 3.6%

Shares of Everpure stock opened at $69.14 on Friday. The firm has a market capitalization of $22.98 billion, a PE ratio of 104.76, a P/E/G ratio of 4.06 and a beta of 1.44. The firm’s 50 day moving average price is $76.44. Everpure has a 12 month low of $53.43 and a 12 month high of $100.59.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same period in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. As a group, equities analysts forecast that Everpure will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 649,280 shares of company stock worth $49,666,341. Insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

A number of large investors have recently made changes to their positions in the company. Provenance Wealth Advisors LLC purchased a new stake in shares of Everpure in the 3rd quarter valued at approximately $27,000. Salomon & Ludwin LLC lifted its position in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after purchasing an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Everpure during the third quarter worth $28,000. Sunbelt Securities Inc. grew its stake in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Everpure by 2,884.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock valued at $29,000 after buying an additional 375 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Everpure Company Profile

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company’s Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.