Everpure (NYSE:P) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Everpure (NYSE:P) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Bank of America raised shares of Everpure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $150.00 in a report on Thursday, August 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $122.00 price objective on shares of Everpure in a report on Thursday, August 27th. Zacks Research lowered shares of Everpure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Needham & Company LLC increased their target price on Everpure from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Company raised their price target on Everpure from $97.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.10.

Everpure Price Performance

Shares of NYSE P opened at $98.05 on Friday. Everpure has a twelve month low of $56.78 and a twelve month high of $119.10. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 134.32, a P/E/G ratio of 3.95 and a beta of 1.43. The business has a 50-day simple moving average of $90.17.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.51. The company had revenue of $1.19 billion for the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, sell-side analysts expect that Everpure will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Susan J.S. Taylor sold 8,543 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total transaction of $698,304.82. Following the completion of the sale, the director owned 94,608 shares of the company’s stock, valued at approximately $7,733,257.92. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 64,815 shares of Everpure stock in a transaction 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 completion of the transaction, the insider directly owned 6,074,080 shares in the company, valued at approximately $713,339,955.20. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 717,520 shares of company stock worth $70,172,896. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Hedge funds and other institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares during the period. Banque Transatlantique SA purchased a new stake in Everpure in the 3rd quarter worth approximately $29,000. Continuum Advisory LLC bought a new stake in shares of Everpure in the 2nd quarter worth approximately $29,000. Greenline Wealth Management LLC purchased a new position in shares of Everpure during the fourth quarter valued at approximately $32,000. Finally, Reflection Asset Management purchased a new position in shares of Everpure during the fourth quarter valued at approximately $32,000. 83.42% of the stock is owned by institutional investors.

About Everpure

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair’s global water-solutions business.