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

Key Points

• Analyst sentiment is moderately bullish: Twenty-one brokerages collectively rate Everpure “Moderate Buy,” with 16 buy ratings, four holds and one sell. The average 12-month price target is $101.45.
• Quarterly results exceeded expectations: Everpure reported $0.47 in EPS versus the $0.40 consensus estimate and revenue of $1.05 billion, up 35.2% year over year and above forecasts.
• Insiders have been selling shares while institutions maintain heavy ownership: Insiders sold 827,800 shares worth about $78.2 million over the past quarter, while institutional investors own 83.42% of the company.

Shares of Everpure, Inc. (NYSE:P - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-one brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $101.45.

Several research analysts have issued reports on P shares. Northland Securities set a $90.00 price objective on shares of Everpure in a research report on Thursday, May 28th. Piper Sandler restated an "overweight" rating on shares of Everpure in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on Everpure from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Wall Street Zen downgraded Everpure from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Wedbush lifted their price objective on shares of Everpure from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th.

Insider Activity

In other news, insider John Colgrove sold 64,815 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 6,074,080 shares in the company, valued at $713,339,955.20. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew William Fraser Brown sold 4,735 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $72.57, for a total transaction of $343,618.95. Following the transaction, the director directly owned 27,683 shares of the company's stock, valued at $2,008,955.31. This represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 827,800 shares of company stock worth $78,153,882 over the last quarter. Insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On Everpure

Institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in Everpure during the 1st quarter worth approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Everpure by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company's stock worth $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Everpure by 109.7% in the 1st 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 during the period. Empowered Funds LLC lifted its holdings in shares of Everpure by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $212,000 after buying an additional 194 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake 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. Hedge funds and other institutional investors own 83.42% of the company's stock.

Everpure Stock Performance

P stock opened at $117.03 on Tuesday. The stock has a market capitalization of $38.90 billion, a PE ratio of 177.32, a price-to-earnings-growth ratio of 6.63 and a beta of 1.45. Everpure has a fifty-two week low of $54.37 and a fifty-two week high of $118.81. The stock's 50 day simple moving average is $79.50.

Everpure (NYSE:P - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $997.88 million. During the same quarter in the prior year, the business posted $0.29 EPS. The company's revenue for the quarter was up 35.2% on a year-over-year basis. Research analysts predict that Everpure will post 0.93 EPS for the current fiscal 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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