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

Key Points

• Everpure has a “Moderate Buy” consensus from 21 analysts, with 13 buy ratings and an average 12-month price target of $96.50.
• The company recently beat quarterly expectations, reporting EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion versus $997.88 million estimated, with revenue up 35.2% year over year.
• There has been notable insider selling and active institutional ownership: insiders sold 572,345 shares over the last 90 days, while institutions own 83.42% of the stock.

Shares of Everpure, Inc. (NYSE:P - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-one ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $96.50.

A number of research analysts recently commented on P shares. Piper Sandler reiterated an "overweight" rating on shares of Everpure in a research note on Thursday, May 28th. Citigroup downgraded shares of Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price objective for the company. in a research report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on Everpure from $90.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Everpure in a research report on Thursday, May 28th. Finally, Wedbush increased their target price on Everpure from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th.

Everpure Stock Performance

P stock opened at $75.19 on Friday. Everpure has a one year low of $54.37 and a one year high of $100.59. The company has a market capitalization of $24.99 billion, a PE ratio of 113.93, a price-to-earnings-growth ratio of 4.22 and a beta of 1.45. The stock's fifty day moving average is $76.01.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company's revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Research analysts expect that Everpure will post 0.92 EPS for the current fiscal year.

Insider Transactions at Everpure

In other news, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares of the company's stock, valued at approximately $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 4,735 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the sale, the director directly owned 27,683 shares of the company's stock, valued at approximately $2,008,955.31. The trade was a 14.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 572,345 shares of company stock valued at $45,408,075. Corporate insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Everpure

A number of hedge funds have recently bought and sold shares of P. Integrated Wealth Concepts LLC acquired a new position in shares of Everpure during the 1st quarter worth approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Everpure by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company's stock worth $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Everpure by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company's stock valued at $50,377,000 after buying an additional 595,307 shares in the last quarter. Empowered Funds LLC raised its position in shares of Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $212,000 after buying an additional 194 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Everpure by 261.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company's stock valued at $184,000 after buying an additional 2,316 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.