Everpure (NYSE:P) Stock Price Down 6.9% – Here’s Why

Everpure, Inc. (NYSE:P)’s stock price traded down 6.9% during trading on Monday. The company traded as low as $119.45 and last traded at $118.2480. Approximately 1,039,702 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,761,919 shares. The stock had previously closed at $126.98.

Analyst Ratings Changes

A number of research firms have weighed in on P. Cantor Fitzgerald reissued a “neutral” rating on shares of Everpure in a research report on Monday, October 12th. Bank of America upgraded Everpure from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $150.00 in a research note on Thursday, August 27th. Northland Securities set a $167.00 price target on shares of Everpure in a research report on Thursday, September 24th. Zacks Research raised Everpure from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Raymond James Financial reissued an “outperform” rating and set a $122.00 price objective on shares of Everpure in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.25.

Everpure Stock Down 8.1%

The business’s 50-day moving average is $119.70. The firm has a market cap of $38.89 billion, a PE ratio of 159.56, a price-to-earnings-growth ratio of 4.24 and a beta of 1.43.

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

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the sale, the insider owned 6,474,080 shares of the company’s stock, valued at $627,856,278.40. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,235,091 shares of company stock worth $142,276,537 in the last quarter. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Continuum Advisory LLC purchased a new position in shares of Everpure in the 2nd quarter worth approximately $29,000. Fortitude Family Office LLC raised its holdings in shares of Everpure by 49.0% during the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after purchasing an additional 119 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new stake in Everpure in the 3rd quarter worth approximately $47,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Everpure in the third quarter valued at approximately $48,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Everpure in the third quarter worth approximately $61,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.