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

Shares of Everpure, Inc. (NYSE:P) gapped up before the market opened on Tuesday . The stock had previously closed at $93.78, but opened at $98.52. Everpure shares last traded at $99.6060, with a volume of 228,201 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on P. Needham & Company LLC increased their price objective on Everpure from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Guggenheim reaffirmed a “buy” rating and set a $150.00 target price on shares of Everpure in a research note on Thursday, August 27th. Barclays upped their target price on Everpure from $84.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Wedbush increased their price target on shares of Everpure from $127.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, Evercore restated an “outperform” rating and set a $130.00 price target on shares of Everpure in a report on Monday, August 24th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.10.

Everpure Stock Performance

The stock has a market capitalization of $32.57 billion, a PE ratio of 133.90, a price-to-earnings-growth ratio of 3.90 and a beta of 1.43. The stock’s 50-day simple moving average is $91.26.

Everpure (NYSE:P) last issued its earnings results 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 return on equity of 19.06% and a net margin of 5.94%.The firm’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, equities analysts expect that Everpure, Inc. will post 0.96 EPS for the current year.

Insider Activity at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the transaction, the insider owned 340,939 shares in the company, valued at approximately $26,634,154.68. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan J.S. Taylor sold 8,543 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at $7,733,257.92. This represents a 8.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 817,520 shares of company stock valued at $79,667,896. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everpure

Several hedge funds have recently bought and sold shares of the business. Paradigm Capital Management Inc. NY acquired a new stake in Everpure in the 2nd quarter worth approximately $2,127,000. Raiffeisen Bank International AG bought a new position in shares of Everpure in the second quarter valued at approximately $25,525,000. Wellington Management Group LLP acquired a new stake in shares of Everpure in the second quarter worth $2,192,000. S&CO Inc. bought a new stake in shares of Everpure during the 2nd quarter worth $15,003,000. Finally, Van Hulzen Asset Management LLC acquired a new position in Everpure in the 2nd quarter valued at $5,382,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Everpure Company Profile

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.