Everpure (NYSE:P) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Everpure (NYSE:P) in a research report released on Thursday, MarketBeat reports. The firm issued a buy rating and a $140.00 target price on the stock.

P has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating and set a $140.00 target price on shares of Everpure in a research note on Thursday, August 20th. Morgan Stanley lifted their price target on shares of Everpure from $108.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Zacks Research downgraded shares of Everpure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Everpure in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Everpure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Everpure has a consensus rating of “Moderate Buy” and a consensus price target of $129.10.

Everpure Stock Up 0.1%

Shares of Everpure stock opened at $104.10 on Thursday. Everpure has a 1-year low of $56.78 and a 1-year high of $119.10. The firm has a market capitalization of $34.69 billion, a P/E ratio of 142.60, a PEG ratio of 4.19 and a beta of 1.43. The firm’s 50-day simple moving average is $92.22.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 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 revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, sell-side analysts expect that Everpure will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 9,787 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the transaction, the insider directly 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Susan J.S. Taylor sold 8,543 shares of Everpure stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the completion of the transaction, the director directly owned 94,608 shares of the company’s stock, valued at $7,733,257.92. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 817,520 shares of company stock valued at $79,667,896 over the last 90 days. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everpure

A number of large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new position in Everpure during the 2nd quarter valued at approximately $814,000. Tidal Investments LLC acquired a new stake in Everpure in the second quarter worth $14,252,000. Van Hulzen Asset Management LLC acquired a new stake in Everpure in the second quarter worth $5,382,000. One Capital Management LLC bought a new stake in Everpure in the second quarter valued at $2,301,000. Finally, National Pension Service bought a new stake in Everpure in the second quarter valued at $4,400,000. Institutional investors own 83.42% of the company’s stock.

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.