Everpure, Inc. (NYSE:P) Receives $93.21 Average Target Price from Analysts

Everpure, Inc. (NYSE:P) has received an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $93.2105.

Several brokerages recently commented on P. Citigroup cut Everpure from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Thursday. UBS Group raised their target price on Everpure from $60.00 to $63.00 and gave the stock a “sell” rating in a research report on Thursday, February 26th. Northland Securities raised Everpure from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $77.00 to $81.00 in a report on Monday, March 9th. Barclays lifted their price objective on Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Piper Sandler reissued a “buy” rating on shares of Everpure in a report on Thursday, February 26th.

Insider Buying and Selling

In related news, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $85.93, for a total value of $17,186,000.00. Following the sale, the insider directly owned 6,625,221 shares in the company, valued at $569,305,240.53. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 534,265 shares of company stock valued at $41,321,234 in the last ninety days. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everpure

Hedge funds have recently added to or reduced their stakes in the company. Bigelow Investment Advisors LLC purchased a new position in Everpure in the first quarter worth $231,000. Janney Montgomery Scott LLC boosted its position in Everpure by 46.0% in the first quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company’s stock worth $1,661,000 after purchasing an additional 8,861 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Everpure by 22.9% in the first quarter. Pictet Asset Management Holding SA now owns 157,702 shares of the company’s stock worth $9,302,000 after purchasing an additional 29,386 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Everpure in the first quarter worth $5,367,000. Finally, Fiduciary Alliance LLC boosted its position in Everpure by 23.9% in the first quarter. Fiduciary Alliance LLC now owns 13,875 shares of the company’s stock worth $900,000 after purchasing an additional 2,675 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Stock Performance

NYSE:P opened at $83.56 on Friday. Everpure has a 52 week low of $50.20 and a 52 week high of $100.59. The company has a market capitalization of $27.61 billion, a P/E ratio of 151.93, a PEG ratio of 6.30 and a beta of 1.44.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. On average, sell-side analysts anticipate that Everpure will post 0.72 EPS for the current year.

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.