Everpure, Inc. (NYSE:P) Receives Average Recommendation of “Moderate Buy” from Brokerages

Everpure, Inc. (NYSE:P) has received an average rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $96.3158.

Several equities analysts recently weighed in on P shares. Wells Fargo & Company lifted their target price on Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Citigroup downgraded Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Thursday, May 14th. Wedbush boosted their price objective on Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Barclays boosted their price objective on Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Finally, Guggenheim boosted their price objective on Everpure from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 28th.

Everpure Stock Down 0.0%

NYSE P opened at $69.14 on Monday. The stock has a market capitalization of $22.98 billion, a P/E ratio of 104.76, a PEG ratio of 3.93 and a beta of 1.44. The firm’s fifty day moving average is $76.44. Everpure has a fifty-two week low of $53.43 and a fifty-two week high of $100.59.

Everpure (NYSE:P) last released its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.Everpure’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Sell-side analysts anticipate that Everpure will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Everpure

In other news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total value of $17,186,000.00. Following the transaction, the insider directly owned 6,625,221 shares in the company, valued at $569,305,240.53. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 649,280 shares of company stock valued at $49,666,341 in the last quarter. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everpure

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

About Everpure

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.