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

Key Points

• Everpure shares reached a new 52-week high of $144.03, with the stock up 2.7% and a market capitalization of approximately $47.94 billion.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” from 21 analysts and a consensus price target of $138.25, although the stock’s valuation is elevated at a P/E ratio of 197.08.
• The company exceeded quarterly EPS expectations, reporting $0.70 versus the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion. However, insiders have sold more than 1.05 million shares worth approximately $106.9 million over the past 90 days.

Everpure, Inc. (NYSE:P - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $144.03 and last traded at $143.8690, with a volume of 4959633 shares changing hands. The stock had previously closed at $140.14.

Analyst Ratings Changes

P has been the subject of several recent research reports. Raymond James Financial restated an "outperform" rating and issued a $122.00 price target on shares of Everpure in a research note on Thursday, August 27th. Citigroup lifted their price objective on shares of Everpure from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Morgan Stanley lifted their price target on Everpure from $119.00 to $137.00 and gave the company an "overweight" rating in a research note on Thursday, September 24th. Northland Securities set a $167.00 price target on Everpure in a report on Thursday, September 24th. Finally, Evercore restated an "outperform" rating and set a $145.00 price objective on shares of Everpure in a research report on Thursday, September 24th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.25.

Everpure Stock Up 2.7%

The business has a fifty day moving average of $103.96. The firm has a market capitalization of $47.94 billion, a PE ratio of 197.08, a P/E/G ratio of 4.68 and a beta of 1.39.

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

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 200,000 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 6,474,080 shares of the company's stock, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 42,930 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 288,362 shares of the company's stock, valued at $35,805,909.54. This trade represents a 12.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,050,980 shares of company stock valued at $106,921,774. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Everpure

Several institutional investors have recently added to or reduced their stakes in the stock. Continuum Advisory LLC bought a new position in Everpure during the 2nd quarter worth approximately $29,000. Reflection Asset Management bought a new stake in shares of Everpure in the 4th quarter valued at $32,000. SHP Wealth Management bought a new stake in shares of Everpure in the 4th quarter valued at $36,000. Ancora Advisors LLC acquired a new stake in shares of Everpure during the second quarter worth $67,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Everpure during the second quarter worth $158,000. 83.42% of the stock is currently owned by 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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