Everpure (NYSE:P) Hits New 12-Month High - Time to Buy?

Key Points

• Everpure shares reached a new 52-week high of $157.57, giving the company a market capitalization of approximately $52.34 billion. The stock is trading well above the analyst consensus price target of $143.25, though Guggenheim raised its target to $215 and rated the shares a “buy.”
• The company reported quarterly EPS of $0.70, surpassing the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion. Analysts collectively maintain a “Moderate Buy” rating, with 17 buys, four holds and one sell.
• Insiders sold 947,444 shares worth about $99.6 million over the past 90 days, while hedge funds and other institutions own a substantial 83.42% of the company.

Everpure, Inc. (NYSE:P - Get Free Report) shares hit a new 52-week high on Tuesday. The stock traded as high as $157.57 and last traded at $157.0670, with a volume of 3,286,687 shares traded. The stock had previously closed at $155.31.

Analyst Upgrades and Downgrades

P has been the topic of several research reports. Oppenheimer reissued an "outperform" rating and set a $140.00 price objective on shares of Everpure in a report on Thursday, August 20th. Wells Fargo & Company upped their target price on Everpure from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, September 24th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Everpure in a research report on Monday. Guggenheim increased their target price on Everpure from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Monday. Finally, Evercore reiterated an "outperform" rating and issued a $145.00 price target on shares of Everpure in a report on Thursday, September 24th. Seventeen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $143.25.

Everpure Stock Performance

The firm has a 50-day moving average of $111.68. The stock has a market capitalization of $52.34 billion, a PE ratio of 215.16, a PEG ratio of 5.15 and a beta of 1.39.

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 the consensus estimate of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. 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. As a group, sell-side analysts predict that Everpure, Inc. will post 0.95 EPS for the current year.

Insider Buying and Selling at Everpure

In other Everpure news, insider Ajay Singh sold 42,930 shares of Everpure stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $124.17, for a total value of $5,330,618.10. Following the transaction, the insider directly owned 288,362 shares of the company's stock, valued at approximately $35,805,909.54. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 200,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $96.98, for a total value of $19,396,000.00. Following the transaction, the insider directly owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. The trade was a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 947,444 shares of company stock worth $99,631,875 over the last ninety days. Corporate insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Everpure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mariner LLC grew its position in Everpure by 3.1% during the 4th quarter. Mariner LLC now owns 2,679,161 shares of the company's stock worth $179,538,000 after purchasing an additional 80,039 shares during the last quarter. JANA Partners Management LP purchased a new position in shares of Everpure in the second quarter worth $77,939,000. Artemis Investment Management LLP raised its holdings in shares of Everpure by 100.1% in the third quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock worth $101,456,000 after buying an additional 388,066 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Everpure by 158.1% in the fourth quarter. Engineers Gate Manager LP now owns 415,037 shares of the company's stock worth $27,812,000 after buying an additional 254,211 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Everpure during the second quarter worth $25,525,000. 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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