Everpure's (P) Buy Rating Reiterated at Guggenheim

Key Points

• Guggenheim reiterated its Buy rating on Everpure and set a $215 price target, implying potential upside of 97.88% from the stock’s current price.
• Analysts overall have a Moderate Buy consensus and an average price target of $149.05, below Guggenheim’s target.
• Everpure reported quarterly EPS of $0.70, beating the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion.

Everpure (NYSE:P - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Guggenheim in a research note issued to investors on Friday, Benzinga reports. They presently have a $215.00 target price on the stock. Guggenheim's price target indicates a potential upside of 97.88% from the company's current price.

P has been the subject of a number of other reports. Piper Sandler raised their target price on shares of Everpure from $133.00 to $162.00 and gave the company an "overweight" rating in a report on Thursday, September 24th. Wall Street Zen downgraded shares of Everpure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. Weiss Ratings upgraded shares of Everpure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Oppenheimer reissued an "outperform" rating and issued a $140.00 price objective (up from $100.00) on shares of Everpure in a research note on Thursday, August 20th. Finally, Susquehanna boosted their target price on shares of Everpure from $145.00 to $175.00 and gave the stock a "positive" rating in a report on Friday, September 25th. 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 given a Sell rating to the company. According to data from MarketBeat, Everpure presently has a consensus rating of "Moderate Buy" and an average target price of $149.05.

Everpure Trading Down 1.3%

Shares of Everpure stock opened at $108.65 on Friday. The firm has a market cap of $36.21 billion, a PE ratio of 150.83, a PEG ratio of 3.55 and a beta of 1.43. The stock has a 50 day moving average of $120.95 and a 200 day moving average of $95.92. Everpure has a 12 month low of $56.78 and a 12 month high of $157.57.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.51. The business had revenue of $1.19 billion for the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm's revenue for the quarter was up 37.7% on a year-over-year basis. As a group, equities research analysts forecast that Everpure will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Dietzen sold 60,000 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the sale, the director owned 70,000 shares in the company, valued at approximately $9,912,000. This represents a 46.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mallun Yen sold 11,942 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $146.97, for a total value of $1,755,115.74. Following the completion of the sale, the director owned 31,339 shares of the company's stock, valued at approximately $4,605,892.83. This represents a 27.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 745,371 shares of company stock worth $92,333,246 in the last 90 days. Company insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Everpure in the 3rd quarter worth about $28,000. Continuum Advisory LLC purchased a new position in shares of Everpure during the 2nd quarter worth about $29,000. Fortitude Family Office LLC grew its holdings in Everpure by 49.0% during the 3rd quarter. Fortitude Family Office LLC now owns 362 shares of the company's stock valued at $47,000 after purchasing an additional 119 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in Everpure during the 3rd quarter valued at about $47,000. Finally, Reyes Financial Architecture Inc. purchased a new stake in Everpure in the 3rd quarter worth about $48,000. Institutional investors own 83.42% of the company's stock.

About Everpure

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.

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