Everpure, Inc. (NYSE:P) Receives $101.45 Consensus Price Target from Brokerages

Everpure, Inc. (NYSE:P) has earned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $105.95.

Several analysts have commented on P shares. Zacks Research downgraded shares of Everpure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. TD Cowen upped their price objective on shares of Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays increased their target price on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Northland Securities set a $90.00 price target on Everpure in a research report on Thursday, May 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Everpure in a research note on Friday, July 17th.

Everpure Price Performance

NYSE P opened at $110.22 on Tuesday. Everpure has a 1-year low of $55.22 and a 1-year high of $119.10. The stock has a fifty day moving average of $82.18. The firm has a market capitalization of $36.64 billion, a P/E ratio of 167.00, a PEG ratio of 6.29 and a beta of 1.45.

Everpure (NYSE:P) last released 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. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. Analysts anticipate that Everpure will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 64,815 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $117.44, for a total transaction of $7,611,873.60. Following the transaction, the insider owned 6,074,080 shares in the company, valued at $713,339,955.20. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the transaction, the insider directly owned 340,939 shares in the company, valued at approximately $26,634,154.68. This represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 827,800 shares of company stock valued at $78,153,882 in the last quarter. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Everpure during the 4th quarter worth about $265,327,000. Atreides Management LP bought a new stake in Everpure in the second quarter valued at about $204,552,000. Polar Capital Holdings Plc increased its stake in Everpure by 90.5% in the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock valued at $237,278,000 after acquiring an additional 1,345,207 shares during the period. AQR Capital Management LLC raised its position in Everpure by 62.7% in the fourth quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock worth $228,820,000 after purchasing an additional 1,315,351 shares in the last quarter. Finally, Turiya Advisors Asia Ltd acquired a new position in Everpure in the fourth quarter worth about $67,010,000. 83.42% of the stock is currently owned by 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.