Everpure, Inc. (NYSE:P) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Everpure has a consensus analyst rating of “Moderate Buy” from 19 brokerages, with 13 buy ratings, five holds, and one sell. The average 12-month price target is about $93.21.
• The stock was up 2.6% and last traded at $78.04, leaving it below its 52-week high of $100.59 but above its low of $48.31. The company’s market cap is about $25.79 billion.
• Everpure’s latest earnings beat estimates, reporting $0.69 EPS on $1.06 billion in revenue, both above expectations, with revenue rising 20.4% year over year. However, an insider recently sold shares, and institutional ownership remains high at 83.42%.

Shares of Everpure, Inc. (NYSE:P - Get Free Report) have received an average rating of "Moderate Buy" from the nineteen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $93.2105.

Several equities analysts have recently weighed in on P shares. Piper Sandler reiterated a "buy" rating on shares of Everpure in a research report on Thursday, February 26th. Weiss Ratings assumed coverage on Everpure in a research report on Monday, April 20th. They set a "hold (c)" rating on the stock. UBS Group increased their price target on shares of Everpure from $60.00 to $63.00 and gave the stock a "sell" rating in a report on Thursday, February 26th. Wall Street Zen raised shares of Everpure from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Barclays raised their price target on shares of Everpure from $77.00 to $81.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th.

Everpure Stock Up 2.6%

Shares of P opened at $78.04 on Friday. Everpure has a fifty-two week low of $48.31 and a fifty-two week high of $100.59. The stock has a market capitalization of $25.79 billion, a P/E ratio of 141.90, a PEG ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company's revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. Sell-side analysts expect that Everpure will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 82,266 shares of the firm's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00. Following the sale, the insider owned 66,927 shares of the company's stock, valued at $4,718,353.50. This trade represents a 55.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 334,265 shares of company stock valued at $24,135,234. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Everpure

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