Everpure (NYSE:P) Given New $88.00 Price Target at UBS Group

Everpure (NYSE:P) had its target price upped by UBS Group from $80.00 to $88.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. UBS Group‘s target price would indicate a potential downside of 17.33% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Susquehanna lifted their price objective on shares of Everpure from $145.00 to $175.00 and gave the stock a “positive” rating in a research note on Friday, September 25th. Evercore increased their target price on shares of Everpure from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 5th. Guggenheim raised their target price on shares of Everpure from $150.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Piper Sandler lifted their price target on shares of Everpure from $133.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Finally, Barclays boosted their price target on Everpure from $110.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.05.

Everpure Price Performance

NYSE P traded down $0.06 on Thursday, hitting $106.44. 228,394 shares of the stock were exchanged, compared to its average volume of 3,741,958. The stock has a market capitalization of $35.47 billion, a P/E ratio of 146.54, a PEG ratio of 3.40 and a beta of 1.43. The business has a fifty day simple moving average of $120.59. Everpure has a 52 week low of $56.78 and a 52 week high of $157.57.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company had revenue of $1.19 billion during the quarter. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, equities analysts expect that Everpure will post 0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $153.73, for a total transaction of $15,373,000.00. Following the completion of the sale, the insider directly owned 2,415,000 shares in the company, valued at $371,257,950. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mallun Yen sold 11,942 shares of Everpure stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $146.97, for a total transaction of $1,755,115.74. Following the sale, the director directly owned 31,339 shares in the company, valued at $4,605,892.83. This trade represents a 27.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 710,186 shares of company stock worth $89,868,120. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of P. Resona Asset Management Co. Ltd. grew its stake in Everpure by 6.4% during the third quarter. Resona Asset Management Co. Ltd. now owns 89,060 shares of the company’s stock worth $11,632,000 after purchasing an additional 5,378 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Everpure in the 3rd quarter valued at $28,000. Whittier Trust Co. raised its holdings in shares of Everpure by 0.9% in the 3rd quarter. Whittier Trust Co. now owns 158,820 shares of the company’s stock worth $20,770,000 after acquiring an additional 1,411 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Everpure in the third quarter worth approximately $3,190,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Everpure in the 3rd quarter worth $409,000. 83.42% of the stock is owned by institutional investors.

About Everpure

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads. The company’s portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.