Everpure (NYSE:P) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Everpure (NYSE:P) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

P has been the subject of a number of other reports. Wall Street Zen raised Everpure from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 5th. Guggenheim boosted their price objective on shares of Everpure from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings initiated coverage on shares of Everpure in a report on Monday, April 20th. They set a “hold (c)” rating for the company. DA Davidson set a $100.00 target price on shares of Everpure in a research note on Wednesday, July 1st. Finally, Morgan Stanley increased their target price on shares of Everpure from $84.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Everpure presently has an average rating of “Moderate Buy” and an average price target of $96.50.

Everpure Price Performance

NYSE:P opened at $69.25 on Thursday. Everpure has a 12-month low of $54.37 and a 12-month high of $100.59. The business has a fifty day moving average of $76.89. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 104.93, a P/E/G ratio of 3.87 and a beta of 1.45.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. On average, sell-side analysts predict that Everpure will post 0.92 earnings per share for the current year.

Insider Buying and Selling at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the transaction, the insider owned 340,939 shares in the company, valued at $26,634,154.68. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mallun Yen sold 4,735 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $76.90, for a total transaction of $364,121.50. Following the sale, the director directly owned 43,281 shares of the company’s stock, valued at $3,328,308.90. This represents a 9.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 772,345 shares of company stock worth $59,454,825 in the last quarter. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Everpure

Hedge funds and other institutional investors have recently bought and sold shares of the company. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Everpure in the fourth quarter valued at $10,948,000. ClearAlpha Technologies LP acquired a new position in shares of Everpure during the 4th quarter worth $971,000. National Pension Service increased its position in Everpure by 782.9% during the 4th quarter. National Pension Service now owns 665,667 shares of the company’s stock worth $44,606,000 after purchasing an additional 590,274 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Everpure by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock valued at $515,972,000 after acquiring an additional 207,317 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new position in Everpure in the fourth quarter valued at about $745,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.