Everpure (NYSE:P) Hits New 52-Week High - Still a Buy?

Key Points

• Everpure shares hit a new 52-week high of $132.44 and last traded near $129.75, lifting the company’s market capitalization to approximately $43.24 billion.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $138.25, although some firms maintain hold or equal-weight ratings.
• The company exceeded quarterly earnings expectations, reporting $0.70 EPS versus a $0.19 estimate and 37.7% year-over-year revenue growth. However, insiders have sold more than 1 million shares worth about $106.9 million over the past 90 days, while the stock carries a high P/E ratio of 177.74.

Everpure, Inc. (NYSE:P - Get Free Report) shares reached a new 52-week high on Wednesday. The company traded as high as $132.44 and last traded at $129.75, with a volume of 4463984 shares trading hands. The stock had previously closed at $129.40.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on P. Barclays increased their price target on Everpure from $110.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday. Citigroup boosted their price objective on Everpure from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, September 24th. Evercore reaffirmed an "outperform" rating and issued a $145.00 price objective on shares of Everpure in a research note on Thursday, September 24th. Zacks Research downgraded Everpure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Everpure in a research note on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Everpure Stock Performance

The company's fifty day moving average price is $98.93. The company has a market capitalization of $43.24 billion, a price-to-earnings ratio of 177.74, a P/E/G ratio of 4.32 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. The firm had revenue of $1.19 billion for the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The firm's revenue for the quarter was up 37.7% compared to the same quarter last year. Equities analysts predict that Everpure, Inc. will post 0.95 EPS for the current year.

Insider Activity at Everpure

In other Everpure news, insider Ajay Singh sold 42,930 shares of Everpure stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $124.17, for a total value of $5,330,618.10. Following the sale, the insider owned 288,362 shares of the company's stock, valued at $35,805,909.54. The trade was a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 200,000 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 6,474,080 shares in the company, valued at $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,050,980 shares of company stock valued at $106,921,774 in the last 90 days. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everpure

A number of hedge funds have recently bought and sold shares of P. Continuum Advisory LLC bought a new stake in shares of Everpure in the 2nd quarter worth about $29,000. Reflection Asset Management purchased a new stake in shares of Everpure during the 4th quarter valued at about $32,000. SHP Wealth Management bought a new position in shares of Everpure in the 4th quarter valued at about $36,000. Ancora Advisors LLC bought a new position in shares of Everpure in the 2nd quarter valued at about $67,000. Finally, Rothschild Investment LLC grew its position in Everpure by 18.1% in the fourth quarter. Rothschild Investment LLC now owns 993 shares of the company's stock worth $67,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

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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