Everpure (NYSE:P) Stock Price Expected to Rise, UBS Group Analyst Says

Everpure (NYSE:P) had its target price upped by stock analysts at UBS Group from $80.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. UBS Group‘s price objective indicates a potential downside of 17.33% from the company’s current price.

P has been the topic of a number of other research reports. Weiss Ratings raised Everpure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. TD Cowen boosted their target price on Everpure from $100.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Morgan Stanley raised their target price on shares of Everpure from $119.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Raymond James Financial boosted their target price on Everpure from $122.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Finally, Wells Fargo & Company upped their target price on Everpure from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.05.

Everpure Stock Performance

Everpure stock traded down $0.06 during midday trading on Thursday, hitting $106.44. 228,394 shares of the company’s stock were exchanged, compared to its average volume of 3,741,958. Everpure has a 52-week low of $56.78 and a 52-week high of $157.57. The firm has a market capitalization of $35.47 billion, a P/E ratio of 146.54, a P/E/G ratio of 3.40 and a beta of 1.43. The stock’s 50-day moving average price is $120.59.

Everpure (NYSE:P) last announced its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The business had revenue of $1.19 billion for the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. As a group, research analysts expect that Everpure will post 0.95 earnings per share for the current year.

Insider Activity at Everpure

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $145.00, for a total transaction of $14,500,000.00. Following the sale, the insider owned 5,393,309 shares of the company’s stock, valued at $782,029,805. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott Dietzen sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total value of $8,496,000.00. Following the completion of the sale, the director owned 70,000 shares in the company, valued at $9,912,000. The trade was a 46.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 710,186 shares of company stock valued at $89,868,120 over the last ninety days. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Several institutional investors and hedge funds have recently modified their holdings of P. Family Legacy Financial Solutions LLC increased its position in shares of Everpure by 3.6% during the third quarter. Family Legacy Financial Solutions LLC now owns 2,113 shares of the company’s stock valued at $276,000 after acquiring an additional 73 shares in the last quarter. IFP Advisors Inc grew its position in Everpure by 1.1% during the third quarter. IFP Advisors Inc now owns 10,449 shares of the company’s stock valued at $1,367,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC grew its position in Everpure by 49.0% during the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock valued at $47,000 after buying an additional 119 shares during the period. Brookstone Capital Management increased its holdings in Everpure by 4.4% during the third quarter. Brookstone Capital Management now owns 2,877 shares of the company’s stock valued at $376,000 after buying an additional 121 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in Everpure by 4.4% during the third quarter. Diversify Advisory Services LLC now owns 3,976 shares of the company’s stock valued at $530,000 after buying an additional 166 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Everpure Company Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads. The company’s portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.