Everpure (NYSE:P) Upgraded by Susquehanna to "Positive" Rating

Key Points

• Susquehanna upgraded Everpure to “positive” from “neutral” and set a $120 price target, implying 33.44% upside from the prior close. Morgan Stanley also raised its rating to “overweight” with a $108 target.
• Everpure reported quarterly EPS of $0.47, exceeding the $0.40 consensus estimate, while revenue reached $1.05 billion, up 35.2% year over year and above expectations.
• Analyst sentiment is generally favorable, with 15 Buy ratings, five Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $98.30. However, insiders have sold $25.8 million worth of shares over the past 90 days.

Everpure (NYSE:P - Get Free Report) was upgraded by research analysts at Susquehanna from a "neutral" rating to a "positive" rating in a report issued on Monday, Marketbeat reports. The firm presently has a $120.00 price target on the stock. Susquehanna's price target indicates a potential upside of 33.44% from the company's previous close.

A number of other brokerages have also recently weighed in on P. Citigroup cut Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price target on the stock. in a research note on Thursday, May 14th. Piper Sandler reaffirmed an "overweight" rating on shares of Everpure in a research note on Thursday, May 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Everpure in a report on Friday, July 17th. Wall Street Zen downgraded shares of Everpure from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley upgraded shares of Everpure from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $87.00 to $108.00 in a report on Monday. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.30.

Everpure Price Performance

NYSE P opened at $89.92 on Monday. Everpure has a 1 year low of $54.37 and a 1 year high of $100.59. The firm has a fifty day moving average of $75.54. The company has a market capitalization of $29.89 billion, a PE ratio of 136.25, a P/E/G ratio of 5.10 and a beta of 1.45.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $997.88 million. During the same period last year, the company posted $0.29 EPS. The company's revenue was up 35.2% compared to the same quarter last year. On average, sell-side analysts predict that Everpure will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In other Everpure news, Director Andrew William Fraser Brown sold 4,735 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $72.57, for a total value of $343,618.95. Following the transaction, the director owned 27,683 shares in the company, valued at approximately $2,008,955.31. This represents a 14.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mallun Yen sold 4,735 shares of Everpure stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $76.90, for a total transaction of $364,121.50. Following the sale, the director directly owned 43,281 shares of the company's stock, valued at $3,328,308.90. This trade represents a 9.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 327,800 shares of company stock worth $25,819,007 over the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Everpure

Several hedge funds and other institutional investors have recently modified their holdings of P. Integrated Wealth Concepts LLC acquired a new stake in shares of Everpure during the 1st quarter valued at about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 buying an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 595,307 shares during the last quarter. Empowered Funds LLC raised its position in Everpure by 4.2% during 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 in 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 acquiring an additional 2,316 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other 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.

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