Everpure (NYSE:P) Stock Rating Lowered by Zacks Research

Everpure (NYSE:P) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

P has been the topic of several other reports. Guggenheim boosted their price target on shares of Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wells Fargo & Company lifted their target price on shares of Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a report on Thursday, May 28th. TD Cowen reaffirmed a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Everpure in a report on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Everpure Stock Performance

Shares of NYSE:P opened at $73.02 on Monday. The firm’s 50 day moving average is $75.75. Everpure has a 12-month low of $54.37 and a 12-month high of $100.59. The stock has a market capitalization of $24.27 billion, a PE ratio of 110.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.45.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, analysts anticipate that Everpure will post 0.92 earnings per share for the current year.

Insider Activity at Everpure

In other news, insider John Colgrove sold 200,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the transaction, the insider directly owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $81.74, for a total transaction of $698,304.82. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold 572,345 shares of company stock valued at $45,408,075 over the last quarter. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everpure

Institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Everpure during the 1st quarter valued at approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Everpure by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock worth $387,000 after acquiring an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Everpure by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock worth $50,377,000 after acquiring an additional 595,307 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $212,000 after acquiring an additional 194 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Everpure by 261.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock valued at $184,000 after purchasing an additional 2,316 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other 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.