Everpure (NYSE:P) Shares Gap Up - Still a Buy?

Key Points

• Shares rose sharply: Everpure shares opened at $98.52 versus a prior close of $93.78 and last traded near $99.61.
• Analysts remain broadly positive: Seventeen analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $129.10.
• Strong earnings were offset by insider selling: The company reportedly exceeded quarterly EPS estimates and grew revenue 37.7% year over year, while insiders sold 817,520 shares worth about $79.7 million. However, the article’s company identification appears inconsistent: Everpure is a Pentair-owned brand, not a separately listed NYSE company under ticker P.

Everpure, Inc. (NYSE:P - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $93.78, but opened at $98.52. Everpure shares last traded at $99.6060, with a volume of 228,201 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on P shares. Barclays boosted their price objective on Everpure from $84.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, August 28th. Wedbush lifted their target price on shares of Everpure from $127.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Citigroup upped their price target on shares of Everpure from $118.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Northland Securities increased their price target on shares of Everpure from $90.00 to $128.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Finally, Evercore reissued an "outperform" rating and issued a $130.00 price target on shares of Everpure in a report on Monday, August 24th. Seventeen research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.10.

Everpure Stock Performance

The firm's 50 day moving average price is $90.49. The company has a market capitalization of $32.48 billion, a PE ratio of 133.53, a P/E/G ratio of 3.95 and a beta of 1.43.

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, topping analysts' consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The company had revenue of $1.19 billion during the quarter. Everpure's quarterly revenue was up 37.7% compared to the same quarter last year. As a group, equities analysts expect that Everpure, Inc. will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Colgrove sold 200,000 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan J.S. Taylor sold 8,543 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total value of $698,304.82. Following the completion of the transaction, the director owned 94,608 shares of the company's stock, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 817,520 shares of company stock worth $79,667,896. Company insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Continuum Advisory LLC purchased a new stake in Everpure in the second quarter worth about $29,000. Reflection Asset Management purchased a new position in shares of Everpure during the fourth quarter valued at approximately $32,000. SHP Wealth Management bought a new stake in shares of Everpure in the 4th quarter worth approximately $36,000. Ancora Advisors LLC bought a new stake in shares of Everpure in the 2nd quarter worth approximately $67,000. Finally, Rothschild Investment LLC grew its stake in shares of Everpure by 18.1% in the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company's stock worth $67,000 after buying an additional 152 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Everpure Company Profile

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair's global water-solutions business.

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