Everpure (NYSE:P) Trading 9.4% Higher – Should You Buy?

Everpure, Inc. (NYSE:P) was up 9.4% on Friday . The company traded as high as $85.50 and last traded at $86.4520. Approximately 944,176 shares traded hands during 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

A number of equities analysts have recently weighed in on P shares. Wells Fargo & Company reduced their price target on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Citigroup cut shares of Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research report on Thursday, May 14th. Piper Sandler reissued a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Weiss Ratings started coverage on shares of Everpure in a research report on Monday, April 20th. They set a “hold (c)” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Everpure from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.21.

Everpure Stock Performance

The stock has a market cap of $28.66 billion, a P/E ratio of 157.32, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts predict that Everpure, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling

In related news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $85.93, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 534,265 shares of company stock valued at $41,321,234. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Everpure

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in Everpure by 40.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 134 shares during the last quarter. One Capital Management LLC increased its stake in Everpure by 1.0% in the 3rd quarter. One Capital Management LLC now owns 14,750 shares of the company’s stock valued at $1,236,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC increased its stake in Everpure by 18.1% in the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company’s stock valued at $67,000 after buying an additional 152 shares during the last quarter. State of Wyoming increased its stake in Everpure by 10.3% in the 3rd quarter. State of Wyoming now owns 1,673 shares of the company’s stock valued at $140,000 after buying an additional 156 shares during the last quarter. Finally, GraniteShares Advisors LLC increased its stake in Everpure by 2.3% in the 4th quarter. GraniteShares Advisors LLC now owns 6,918 shares of the company’s stock valued at $464,000 after buying an additional 157 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

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.