Everpure, Inc. (NYSE:P) Receives $96.32 Average Target Price from Analysts

Shares of Everpure, Inc. (NYSE:P) have earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $96.50.

P has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Citigroup cut Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Thursday, May 14th. Lake Street Capital upped their price objective on Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen lowered Everpure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Barclays lifted their target price on Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th.

Insider Activity

In related news, Director Andrew William Fraser Brown sold 4,735 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the transaction, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. This represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 99,900 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the transaction, the insider owned 2,615,000 shares of the company’s stock, valued at approximately $185,769,600. This represents a 3.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 654,015 shares of company stock worth $50,009,960. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

A number of hedge funds and other institutional investors have recently modified their holdings of P. Provenance Wealth Advisors LLC acquired a new position in shares of Everpure during the third quarter worth $27,000. Salomon & Ludwin LLC lifted its stake in shares of Everpure by 108.2% in the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after acquiring an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. boosted its holdings in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in Everpure by 2,884.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock worth $29,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Everpure Stock Performance

Shares of Everpure stock opened at $72.84 on Monday. The company has a market cap of $24.21 billion, a P/E ratio of 110.37, a PEG ratio of 4.11 and a beta of 1.45. The stock’s 50 day moving average price is $76.42. Everpure has a 1-year low of $53.43 and a 1-year high of $100.59.

Everpure (NYSE:P) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. During the same period last year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities analysts predict that Everpure will post 0.92 earnings per share for the current year.

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.