Everpure (NYSE:P) Stock Rating Lowered by Zacks Research

Everpure (NYSE:P) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also weighed in on P. William Blair reaffirmed an “outperform” rating on shares of Everpure in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Everpure from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 5th. TD Cowen reaffirmed a “buy” rating on shares of Everpure in a research note on Wednesday, July 1st. Morgan Stanley increased their price objective on Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Everpure in a report on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

Everpure Price Performance

Shares of NYSE P opened at $73.02 on Monday. The company’s 50 day moving average price is $75.75. Everpure has a 52-week low of $54.37 and a 52-week high of $100.59. The firm has a market capitalization of $24.27 billion, a PE ratio of 110.63, a P/E/G ratio of 4.20 and a beta of 1.45.

Everpure (NYSE:P) last issued its earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. As a group, research analysts anticipate that Everpure will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling at Everpure

In other Everpure news, Director Andrew William Fraser Brown sold 4,735 shares of Everpure stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $72.57, for a total value of $343,618.95. Following the completion of the sale, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan J.S. Taylor sold 8,543 shares of Everpure stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the completion of the sale, the director directly owned 94,608 shares of the company’s stock, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 572,345 shares of company stock valued at $45,408,075 in the last quarter. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bigelow Investment Advisors LLC acquired a new stake in shares of Everpure in the first quarter valued at about $231,000. Janney Montgomery Scott LLC raised its stake in Everpure by 46.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company’s stock valued at $1,661,000 after purchasing an additional 8,861 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Everpure by 22.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 157,702 shares of the company’s stock worth $9,302,000 after purchasing an additional 29,386 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Everpure during the first quarter valued at about $5,367,000. Finally, Fiduciary Alliance LLC grew its position in Everpure by 23.9% during the first quarter. Fiduciary Alliance LLC now owns 13,875 shares of the company’s stock worth $900,000 after buying an additional 2,675 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.