Everpure, Inc. (NYSE:P) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is favorable: Twenty-one analysts collectively rate the stock “Moderate Buy,” with 17 buys, three holds, and one sell. The average 12-month price target is $129.10, with several firms recently raising their targets.
• Recent financial results exceeded expectations: Everpure reported quarterly EPS of $0.70 versus consensus of $0.19, while revenue reached $1.19 billion, up 37.7% year over year.
• Important identification issue: The article incorrectly presents Everpure as a separately listed company under NYSE:P. Everpure is actually a water-filtration brand owned by Pentair, and the stock and analyst data may therefore be misattributed.

Everpure, Inc. (NYSE:P - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $129.10.

Several research analysts recently weighed in on the company. Northland Securities upped their price target on Everpure from $90.00 to $128.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Wells Fargo & Company raised their price objective on Everpure from $97.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Morgan Stanley lifted their target price on Everpure from $108.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Oppenheimer reiterated an "outperform" rating and issued a $140.00 target price on shares of Everpure in a report on Thursday, August 20th. Finally, Piper Sandler reissued an "overweight" rating and issued a $133.00 price target (up from $92.00) on shares of Everpure in a research report on Thursday, August 27th.

Everpure Stock Performance

NYSE P opened at $98.05 on Friday. Everpure has a twelve month low of $56.78 and a twelve month high of $119.10. The stock has a market cap of $32.67 billion, a PE ratio of 134.32, a price-to-earnings-growth ratio of 3.78 and a beta of 1.43. The business's 50 day moving average price is $90.17.

Everpure (NYSE:P - Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. The company 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 business's quarterly revenue was up 37.7% compared to the same quarter last year. On average, equities research analysts expect that Everpure will post 0.96 earnings per share for the current fiscal year.

Insider Activity at Everpure

In other Everpure news, insider John Colgrove sold 64,815 shares of Everpure stock in a transaction on Friday, August 14th. The shares were sold at an average price of $117.44, for a total transaction of $7,611,873.60. Following the completion of the sale, the insider owned 6,074,080 shares of the company's stock, valued at $713,339,955.20. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan J.S. Taylor sold 8,543 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at approximately $7,733,257.92. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 717,520 shares of company stock worth $70,172,896 in the last quarter. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after buying an additional 244 shares during the last quarter. Continuum Advisory LLC acquired a new position in Everpure in the second quarter worth approximately $29,000. Banque Transatlantique SA acquired a new position in Everpure in the third quarter worth approximately $29,000. Reflection Asset Management bought a new position in Everpure during the fourth quarter valued at approximately $32,000. Finally, Greenline Wealth Management LLC bought a new position in Everpure during the fourth quarter valued at approximately $32,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Everpure Company Profile

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair's global water-solutions business.

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