Everpure (NYSE:P) Trading Up 9.4% – Time to Buy?

Everpure, Inc. (NYSE:P)’s stock price was up 9.4% during trading on Friday . The stock traded as high as $85.50 and last traded at $86.4520. Approximately 944,176 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 3,223,853 shares. The stock had previously closed at $79.00.

Analysts Set New Price Targets

Several research analysts have commented on P shares. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a research report on Monday, February 23rd. Wall Street Zen raised Everpure from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Piper Sandler reissued a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Barclays raised their price objective on Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, Northland Securities raised Everpure from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $77.00 to $81.00 in a research report on Monday, March 9th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.21.

Everpure Stock Up 10.6%

The stock has a market capitalization of $28.88 billion, a PE ratio of 158.89, a PEG ratio of 6.52 and a beta of 1.44.

Everpure (NYSE:P) last announced its earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts predict that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity

In other news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. The trade was a 2.93% 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. Insiders sold 534,265 shares of company stock worth $41,321,234 over the last 90 days. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Everpure

A number of hedge funds and other institutional investors have recently modified their holdings of P. Westfield Capital Management Co. LP increased its holdings in Everpure by 69.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock valued at $146,798,000 after buying an additional 717,834 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Everpure by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock valued at $2,612,000 after buying an additional 15,286 shares during the last quarter. AlTi Global Inc. bought a new stake in Everpure in the third quarter valued at about $2,517,000. ARK Investment Management LLC increased its holdings in Everpure by 12.6% in the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock valued at $29,090,000 after buying an additional 38,768 shares during the last quarter. Finally, RBA Wealth Management LLC bought a new stake in Everpure in the third quarter valued at about $5,964,000. 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.