Everpure (NYSE:P) Raised to “Strong-Buy” at Zacks Research

by · The Markets Daily

Everpure (NYSE:P – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

P has been the subject of a number of other reports. Morgan Stanley increased their price objective on shares of Everpure from $119.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Everpure in a research report on Monday, October 12th. Guggenheim upped their target price on shares of Everpure from $150.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 12th. Piper Sandler boosted their price objective on Everpure from $133.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Finally, Bank of America upgraded shares of Everpure from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $150.00 in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.25.

Get Our Latest Research Report on P

Everpure Price Performance

Shares of P stock opened at $126.36 on Monday. The stock’s fifty day moving average is $116.80. Everpure has a 12-month low of $56.78 and a 12-month high of $157.57. The company has a market capitalization of $42.11 billion, a P/E ratio of 173.10, a price-to-earnings-growth ratio of 4.24 and a beta of 1.39.

Everpure (NYSE:P – Get Free Report) last released its 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. The firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company’s revenue was up 37.7% on a year-over-year basis. As a group, sell-side analysts predict that Everpure will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ajay Singh sold 18,267 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $155.24, for a total value of $2,835,769.08. Following the completion of the sale, the insider directly owned 270,095 shares of the company’s stock, valued at $41,929,547.80. The trade was a 6.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Dietzen sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total value of $8,496,000.00. Following the sale, the director owned 70,000 shares of the company’s stock, valued at approximately $9,912,000. This represents a 46.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,235,091 shares of company stock worth $142,276,537. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in Everpure by 49.0% in the 3rd quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after purchasing an additional 119 shares in the last quarter. Continuum Advisory LLC bought a new position in Everpure during the second quarter worth about $29,000. SHP Wealth Management purchased a new position in Everpure in the 4th quarter valued at approximately $36,000. Ancora Advisors LLC purchased a new stake in Everpure during the 2nd quarter worth about $67,000. Finally, Apella Capital LLC bought a new position in shares of Everpure in the third quarter valued at approximately $184,000. Institutional investors own 83.42% of the company’s stock.

About Everpure

(Get Free Report)

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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