Everpure (NYSE:P) Shares Up 5.7% – Should You Buy?

Everpure, Inc. (NYSE:P) shares rose 5.7% on Wednesday . The stock traded as high as $107.62 and last traded at $108.6970. 515,492 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 3,271,112 shares. The stock had previously closed at $102.81.

Wall Street Analysts Forecast Growth

P has been the subject of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price on shares of Everpure in a report on Thursday, August 20th. Citigroup upgraded shares of Everpure from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $118.00 in a research report on Tuesday, August 11th. Northland Securities set a $90.00 price objective on Everpure in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Morgan Stanley raised Everpure from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $87.00 to $108.00 in a research report on Monday, August 10th. Sixteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.30.

Everpure Price Performance

The stock has a 50-day moving average price of $84.01. The firm has a market capitalization of $35.92 billion, a price-to-earnings ratio of 163.84, a P/E/G ratio of 5.58 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, 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 firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, analysts forecast that Everpure, Inc. will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling at Everpure

In related 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 sale, the insider owned 6,074,080 shares of the company’s stock, valued at $713,339,955.20. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total value of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at approximately $7,733,257.92. This trade represents a 8.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 827,800 shares of company stock valued at $78,153,882 in the last three months. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. lifted its position in Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares during the period. Cornerstone Planning Group LLC increased its holdings in Everpure by 2,884.6% in the 4th quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock valued at $29,000 after buying an additional 375 shares during the period. Continuum Advisory LLC acquired a new position in shares of Everpure in the 2nd quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new position in shares of Everpure in the 3rd quarter valued at approximately $29,000. Finally, Reflection Asset Management bought a new stake in shares of Everpure during the 4th quarter worth approximately $32,000. Institutional investors own 83.42% of the company’s stock.

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.