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

Everpure, Inc. (NYSE:P) has earned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $96.50.

A number of equities research analysts have recently commented on the company. Wedbush raised their target price on Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. DA Davidson set a $100.00 price target on Everpure in a report on Wednesday, July 1st. Lake Street Capital increased their price target on Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wells Fargo & Company raised their price objective on Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, Morgan Stanley boosted their price objective on Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th.

Everpure Price Performance

Shares of NYSE P opened at $73.02 on Friday. The business’s fifty day moving average price is $75.75. Everpure has a 1 year low of $54.37 and a 1 year high of $100.59. The stock has a market capitalization of $24.27 billion, a P/E ratio of 110.63, a PEG ratio of 4.20 and a beta of 1.45.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 EPS 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 analyst estimates of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. As a group, equities analysts predict that Everpure will post 0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 9,787 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares of the company’s stock, valued at $26,634,154.68. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew William Fraser Brown sold 4,735 shares of Everpure stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the completion of the sale, the director owned 27,683 shares in the company, valued at approximately $2,008,955.31. The trade was a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 572,345 shares of company stock valued at $45,408,075. 5.10% of the stock is owned by company insiders.

Institutional Trading of Everpure

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Everpure during the 3rd quarter worth $29,000. Salomon & Ludwin LLC boosted its stake in 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. Cornerstone Planning Group LLC grew its holdings in shares of Everpure by 2,884.6% during 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. Finally, Greenline Wealth Management LLC acquired a new stake in shares of Everpure in the fourth quarter valued at about $32,000. 83.42% of the stock is owned by institutional investors and hedge funds.

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.