Everpure (NYSE:P) Stock Price Up 7.8% – Still a Buy?

Everpure, Inc. (NYSE:P) was up 7.8% on Monday. The stock traded as high as $132.58 and last traded at $132.9590. Approximately 1,151,852 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,780,942 shares. The stock had previously closed at $123.33.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on P. Wells Fargo & Company lifted their target price on shares of Everpure from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. Guggenheim lifted their price target on shares of Everpure from $150.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Raymond James Financial reissued an “outperform” rating and issued a $122.00 target price on shares of Everpure in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of Everpure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Everpure in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.25.

Everpure Stock Performance

The company has a market cap of $44.84 billion, a P/E ratio of 184.01, a P/E/G ratio of 4.11 and a beta of 1.39. The business’s fifty day moving average price is $117.36.

Everpure (NYSE:P) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business had revenue of $1.19 billion during the quarter. The business’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, research analysts anticipate that Everpure, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider directly owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,235,091 shares of company stock valued at $142,276,537. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JANA Partners Management LP purchased a new stake in shares of Everpure during the second quarter worth about $77,939,000. Assenagon Asset Management S.A. raised its position in shares of Everpure by 504.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock worth $130,003,000 after purchasing an additional 829,476 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Everpure by 100.1% in the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock valued at $101,456,000 after buying an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Everpure in the 2nd quarter valued at about $25,525,000. Finally, Engineers Gate Manager LP acquired a new stake in Everpure in the 2nd quarter worth about $25,859,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.