Everpure (NYSE:P) Trading 12.6% Higher Following Analyst Upgrade

Everpure, Inc. (NYSE:P)’s share price shot up 12.6% during trading on Monday after Susquehanna upgraded the stock from a neutral rating to a positive rating. Susquehanna now has a $120.00 price target on the stock, up from their previous price target of $85.00. Everpure traded as high as $100.45 and last traded at $101.42. Approximately 918,603 shares were traded during trading, a decline of 72% from the average daily volume of 3,240,447 shares. The stock had previously closed at $90.05.

Several other brokerages have also recently issued reports on P. Northland Securities set a $90.00 price objective on shares of Everpure in a research note on Thursday, May 28th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Everpure in a research note on Thursday, May 28th. Morgan Stanley raised shares of Everpure from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $87.00 to $108.00 in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Lake Street Capital raised their price objective on shares of Everpure from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Everpure presently has an average rating of “Moderate Buy” and a consensus price target of $98.30.

Insider Transactions at Everpure

In other news, Director Mallun Yen sold 4,735 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $76.90, for a total transaction of $364,121.50. Following the transaction, 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. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 4,735 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the transaction, the director owned 27,683 shares of the company’s stock, valued at $2,008,955.31. This represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 327,800 shares of company stock valued at $25,819,007 in the last three months. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Everpure during the fourth quarter worth about $10,948,000. National Pension Service grew its stake in shares of Everpure by 782.9% in the fourth quarter. National Pension Service now owns 665,667 shares of the company’s stock valued at $44,606,000 after buying an additional 590,274 shares in the last quarter. ClearAlpha Technologies LP purchased a new stake in shares of Everpure during the 4th quarter valued at about $971,000. Geode Capital Management LLC raised its holdings in shares of Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock valued at $515,972,000 after buying an additional 207,317 shares during the period. Finally, Danske Bank A S lifted its position in Everpure by 5.4% during the 4th quarter. Danske Bank A S now owns 315,082 shares of the company’s stock worth $21,114,000 after acquiring an additional 16,271 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Everpure Stock Performance

The stock has a fifty day moving average of $75.54. The company has a market cap of $33.55 billion, a PE ratio of 152.93, a PEG ratio of 5.10 and a beta of 1.45.

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

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.