Everpure (NYSE:P) Stock Jumps 7.8% - Time to Buy?

Key Points

• Everpure shares jumped 7.8% to about $132.96 in mid-day trading, although volume was 70% below the average daily level.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $143.25. The company also recently beat quarterly earnings expectations and reported 37.7% year-over-year revenue growth.
• Valuation remains elevated, with a P/E ratio of 184.01 and PEG ratio of 4.11, while insiders have sold about $142.3 million of shares over the past 90 days.

Everpure, Inc. (NYSE:P - Get Free Report)'s stock price rose 7.8% during mid-day trading on Monday. The company traded as high as $132.58 and last traded at $132.9590. 1,151,852 shares changed hands during trading, a decline of 70% from the average daily volume of 3,780,942 shares. The stock had previously closed at $123.33.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on P shares. Zacks Research upgraded Everpure from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. Susquehanna reaffirmed a "positive" rating and set a $145.00 target price on shares of Everpure in a research note on Thursday, August 27th. Weiss Ratings raised Everpure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Wedbush reaffirmed an "outperform" rating and issued a $130.00 price objective on shares of Everpure in a research report on Thursday, September 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 price target on shares of Everpure in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Everpure currently has an average rating of "Moderate Buy" and an average price target of $143.25.

Everpure Stock Performance

The company has a market cap of $44.84 billion, a PE ratio of 184.01, a PEG ratio of 4.11 and a beta of 1.39. The firm has a fifty day moving average of $117.36.

Everpure (NYSE:P - Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.51. The business 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 company's revenue for the quarter was up 37.7% compared to the same quarter last year. Equities analysts forecast that Everpure, Inc. will post 0.95 EPS for the current year.

Insider Activity at Everpure

In other news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $145.00, for a total value of $14,500,000.00. Following the sale, the insider directly owned 5,393,309 shares of the company's stock, valued at $782,029,805. This represents a 1.82% decrease in their position. The transaction 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, CAO Mona Chu sold 5,112 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $151.40, for a total value of $773,956.80. Following the sale, the chief accounting officer directly owned 125,982 shares in the company, valued at $19,073,674.80. This represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,235,091 shares of company stock worth $142,276,537 in the last 90 days. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in P. JANA Partners Management LP purchased a new stake in Everpure in the 2nd quarter worth approximately $77,939,000. Assenagon Asset Management S.A. lifted its position in Everpure by 504.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company's stock worth $130,003,000 after buying an additional 829,476 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Everpure by 100.1% in the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock valued at $101,456,000 after purchasing an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Everpure in the 2nd quarter valued at $25,525,000. Finally, Engineers Gate Manager LP bought a new position in shares of Everpure during the second quarter valued at about $25,859,000. 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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