Everpure (NYSE:P) Stock Price Down 7.3% – Here’s Why

Shares of Everpure, Inc. (NYSE:P) dropped 7.3% during mid-day trading on Monday . The company traded as low as $101.09 and last traded at $100.68. 1,743,006 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,281,774 shares. The stock had previously closed at $108.55.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna upgraded Everpure from a “neutral” rating to a “positive” rating and increased their price objective for the company from $85.00 to $120.00 in a report on Monday, August 10th. DA Davidson set a $100.00 target price on shares of Everpure in a research report on Wednesday, July 1st. Citigroup upgraded shares of Everpure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $118.00 in a research note on Tuesday, August 11th. Morgan Stanley raised shares of Everpure from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $87.00 to $108.00 in a report on Monday, August 10th. Finally, Barclays boosted their price target on Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.30.

Everpure Price Performance

The business’s fifty day moving average price is $84.01. The company has a market capitalization of $34.13 billion, a P/E ratio of 155.59, a PEG ratio of 5.58 and a beta of 1.45.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS. Analysts expect that Everpure, Inc. will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction dated 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 sale, the insider owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the business’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 transaction of $764,560.44. Following the completion of the transaction, the insider directly owned 340,939 shares of the company’s stock, valued at approximately $26,634,154.68. This represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 827,800 shares of company stock valued at $78,153,882. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. One Capital Management LLC increased its holdings in shares of Everpure by 1.0% during the 3rd quarter. One Capital Management LLC now owns 14,750 shares of the company’s stock worth $1,236,000 after acquiring an additional 141 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Everpure by 18.1% during the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company’s stock valued at $67,000 after purchasing an additional 152 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Everpure by 50.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company’s stock worth $34,000 after purchasing an additional 170 shares during the period. National Bank of Canada FI boosted its position in Everpure by 8.6% during the third quarter. National Bank of Canada FI now owns 2,334 shares of the company’s stock worth $196,000 after purchasing an additional 184 shares during the period. Finally, Larson Financial Group LLC boosted its position in Everpure by 8.5% during the fourth quarter. Larson Financial Group LLC now owns 2,420 shares of the company’s stock worth $162,000 after purchasing an additional 190 shares during the period. 83.42% of the stock is owned by hedge funds and other 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.