Everpure (NYSE:P) Stock Moved Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Everpure (NYSE:P) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks reports.

Several other brokerages also recently commented on P. Lake Street Capital raised their target price on Everpure from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Raymond James Financial reiterated an “outperform” rating and set a $122.00 price target on shares of Everpure in a research report on Thursday, August 27th. Wells Fargo & Company increased their price target on shares of Everpure from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. UBS Group increased their price target on shares of Everpure from $70.00 to $80.00 and gave the stock a “sell” rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Everpure from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Everpure has an average rating of “Moderate Buy” and a consensus price target of $143.25.

Everpure Trading Down 0.6%

NYSE:P opened at $126.36 on Monday. The stock has a market capitalization of $42.11 billion, a P/E ratio of 173.10, a P/E/G ratio of 4.24 and a beta of 1.39. The stock’s fifty day moving average is $116.80. Everpure has a 1 year low of $56.78 and a 1 year high of $157.57.

Everpure (NYSE:P) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. The firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities analysts forecast that Everpure will post 0.95 earnings per share for the current year.

Insider Activity at Everpure

In related news, CAO Mona Chu sold 5,112 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $151.40, for a total transaction of $773,956.80. Following the completion of the transaction, the chief accounting officer directly owned 125,982 shares in the company, valued at $19,073,674.80. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $145.00, for a total value of $14,500,000.00. Following the completion of the transaction, the insider owned 5,393,309 shares in the company, valued at $782,029,805. This represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,235,091 shares of company stock valued at $142,276,537 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Everpure

A number of large investors have recently modified their holdings of P. Fortitude Family Office LLC boosted its stake in Everpure by 49.0% in the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after buying an additional 119 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of Everpure during the second quarter worth approximately $29,000. SHP Wealth Management purchased a new position in shares of Everpure during the fourth quarter worth approximately $36,000. Ancora Advisors LLC purchased a new position in shares of Everpure during the second quarter worth approximately $67,000. Finally, Apella Capital LLC bought a new stake in shares of Everpure in the 3rd quarter worth approximately $184,000. Institutional investors own 83.42% of the company’s stock.

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.