Everpure, Inc. (NYSE:P) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts remain broadly bullish: Everpure has a “Moderate Buy” consensus from 21 analysts, including 17 buy ratings, with an average 12-month price target of $138.25.
• Strong quarterly performance: The company reported adjusted EPS of $0.70, beating estimates of $0.19, while revenue rose 37.7% year over year to $1.19 billion.
• Insiders have been selling shares: Insiders sold 1.04 million shares worth approximately $106.6 million over the past quarter, although institutional investors still own 83.42% of the stock.

Shares of Everpure, Inc. (NYSE:P - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $138.25.

P has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Everpure from $135.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, September 24th. Oppenheimer restated an "outperform" rating and set a $140.00 target price on shares of Everpure in a research report on Thursday, August 20th. Wall Street Zen cut shares of Everpure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. DA Davidson set a $100.00 price target on Everpure in a report on Wednesday, July 1st. Finally, Lake Street Capital increased their price target on Everpure from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th.

Insider Activity

In other Everpure news, CAO Mona Chu sold 2,852 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $140.20, for a total value of $399,850.40. Following the sale, the chief accounting officer directly owned 131,094 shares of the company's stock, valued at approximately $18,379,378.80. This trade represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $115.96, for a total transaction of $11,596,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,044,045 shares of company stock valued at $106,557,064 over the last quarter. Company insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On Everpure

A number of institutional investors have recently bought and sold shares of P. Continuum Advisory LLC acquired a new stake in shares of Everpure in the second quarter valued at $29,000. Cibc World Market Inc. grew its holdings in Everpure by 1.9% during the fourth quarter. Cibc World Market Inc. now owns 21,794 shares of the company's stock worth $1,460,000 after acquiring an additional 397 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Everpure by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,154 shares of the company's stock worth $599,000 after acquiring an additional 429 shares in the last quarter. Reflection Asset Management bought a new stake in Everpure in the fourth quarter worth about $32,000. Finally, Versant Capital Management Inc lifted its holdings in Everpure by 15.7% in the 3rd quarter. Versant Capital Management Inc now owns 3,761 shares of the company's stock valued at $492,000 after acquiring an additional 509 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Everpure Price Performance

Shares of NYSE:P opened at $147.03 on Wednesday. The stock has a market capitalization of $48.99 billion, a P/E ratio of 201.41, a P/E/G ratio of 4.80 and a beta of 1.39. Everpure has a 52-week low of $56.78 and a 52-week high of $149.05. The firm has a fifty day moving average of $105.44.

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

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.

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