Everpure, Inc. (NYSE:P) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Everpure, Inc. (NYSE:P) have been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $96.50.

Several equities research analysts recently weighed in on the stock. Lake Street Capital upped their price objective on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Northland Securities set a $90.00 target price on shares of Everpure in a report on Thursday, May 28th. Piper Sandler restated an “overweight” rating on shares of Everpure in a research report on Thursday, May 28th. Citigroup downgraded shares of Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Thursday, May 14th. Finally, Wedbush increased their price target on shares of Everpure from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th.

Everpure Trading Up 0.8%

NYSE:P opened at $75.19 on Friday. The firm’s fifty day moving average is $76.01. The company has a market cap of $24.99 billion, a P/E ratio of 113.93, a price-to-earnings-growth ratio of 4.22 and a beta of 1.45. Everpure has a fifty-two week low of $54.37 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 (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same period in the prior year, the firm posted $0.29 EPS. Everpure’s quarterly revenue was up 35.2% on a year-over-year basis. On average, analysts expect that Everpure will post 0.92 EPS for the current fiscal year.

Insider Activity

In other Everpure news, Director Andrew William Fraser Brown sold 4,735 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the sale, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction on 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 sale, the insider owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 572,345 shares of company stock valued at $45,408,075 in the last three months. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

Several institutional investors and hedge funds have recently modified their holdings of P. State Street Corp grew its position in Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company’s stock valued at $733,994,000 after acquiring an additional 88,583 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Everpure by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock worth $515,972,000 after acquiring an additional 207,317 shares during the last quarter. Norges Bank acquired a new stake in shares of Everpure in the 4th quarter valued at approximately $265,327,000. Atreides Management LP acquired a new stake in shares of Everpure in the 2nd quarter valued at approximately $204,552,000. Finally, AQR Capital Management LLC grew its holdings in shares of Everpure by 62.7% during the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock valued at $228,820,000 after purchasing an additional 1,315,351 shares during the last quarter. 83.42% of the stock is currently owned by 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.