Everpure (NYSE:P) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Everpure to “strong buy” from “hold.” The stock has an overall “moderate buy” consensus, with 18 buy ratings and an average price target of $143.25.
• Everpure shares opened at $126.36 and were down 0.6%, while trading between a 12-month range of $56.78 to $157.57. The company reported quarterly EPS of $0.70, well above the $0.19 consensus estimate, with revenue up 37.7% year over year to $1.19 billion.
• Insiders have sold 1.24 million shares worth approximately $142.3 million over the past 90 days, while institutional investors own 83.42% of the stock.

Everpure (NYSE:P - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

P has been the subject of several other reports. Piper Sandler lifted their price objective on Everpure from $133.00 to $162.00 and gave the stock an "overweight" rating in a report on Thursday, September 24th. Evercore reaffirmed an "outperform" rating and issued a $145.00 target price on shares of Everpure in a report on Thursday, September 24th. UBS Group lifted their price target on shares of Everpure from $70.00 to $80.00 and gave the company a "sell" rating in a report on Thursday, August 27th. Guggenheim boosted their price objective on Everpure from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Finally, Bank of America upgraded Everpure from a "neutral" rating to a "buy" rating and raised their price objective for the company from $90.00 to $150.00 in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.25.

Everpure Trading Down 0.6%

P stock opened at $126.36 on Monday. Everpure has a twelve month low of $56.78 and a twelve month high of $157.57. The company's 50 day moving average is $116.80. The company has a market cap of $42.11 billion, a price-to-earnings ratio of 156.90, a PEG ratio of 4.24 and a beta of 1.39.

Everpure (NYSE:P - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. The firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm's revenue was up 37.7% on a year-over-year basis. On average, equities research analysts predict that Everpure will post 0.95 earnings per share for the current 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, August 10th. The shares were sold at an average price of $96.98, for a total value of $19,396,000.00. Following the transaction, the insider directly owned 6,474,080 shares in the company, valued at $627,856,278.40. This represents a 3.00% decrease in their position. 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. In the last 90 days, insiders have sold 1,235,091 shares of company stock valued at $142,276,537. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Everpure

Several institutional investors and hedge funds have recently made changes to their positions in P. Fortitude Family Office LLC grew its position in shares of Everpure by 49.0% in the 3rd quarter. Fortitude Family Office LLC now owns 362 shares of the company's stock worth $47,000 after buying an additional 119 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Everpure in the second quarter worth about $29,000. SHP Wealth Management purchased a new position in Everpure during the 4th quarter worth approximately $36,000. Ancora Advisors LLC acquired a new position in Everpure during the second quarter valued at $67,000. Finally, Apella Capital LLC acquired a new position in shares of Everpure in the 3rd quarter valued at about $184,000. 83.42% of the stock is currently owned by 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.

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