Everpure (NYSE:P) Reaches New 1-Year High on Analyst Upgrade

Everpure, Inc. (NYSE:P)’s share price reached a new 52-week high during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $100.00 to $170.00. TD Cowen currently has a buy rating on the stock. Everpure traded as high as $119.10 and last traded at $117.0970, with a volume of 287508 shares trading hands. The stock had previously closed at $116.99.

A number of other equities research analysts also recently weighed in on P. Wedbush raised their price target on shares of Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of Everpure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Piper Sandler reissued an “overweight” rating on shares of Everpure in a research note on Thursday, May 28th. DA Davidson set a $100.00 target price on shares of Everpure in a research report on Wednesday, July 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Everpure in a research note on Thursday, May 28th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.95.

Insider Buying and Selling at Everpure

In other Everpure news, insider John Colgrove sold 64,815 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $117.44, for a total value of $7,611,873.60. Following the completion of the transaction, the insider directly owned 6,074,080 shares in the company, valued at approximately $713,339,955.20. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew William Fraser Brown sold 4,735 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 27,683 shares of the company’s stock, valued at $2,008,955.31. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 827,800 shares of company stock valued at $78,153,882. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position 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 buying an additional 199 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after acquiring an additional 244 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Everpure by 2,884.6% in the fourth 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 period. Banque Transatlantique SA acquired a new position in shares of Everpure in the third quarter worth approximately $29,000. Finally, Reflection Asset Management acquired a new position in shares of Everpure in the fourth quarter worth approximately $32,000. 83.42% of the stock is owned by institutional investors.

Everpure Stock Down 0.2%

The business’s fifty day moving average is $79.50. The company has a market cap of $38.80 billion, a price-to-earnings ratio of 177.00, a P/E/G ratio of 6.63 and a beta of 1.45.

Everpure (NYSE:P) last released its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share 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 during the quarter, compared to the consensus estimate of $997.88 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, equities analysts anticipate that Everpure, Inc. will post 0.93 earnings per share for the current fiscal year.

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.