Everpure (NYSE:P) Rating Lowered to Buy at Wall Street Zen

Everpure (NYSE:P) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on P. Wedbush raised their price target on shares of Everpure from $127.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. TD Cowen upped their price objective on shares of Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Barclays increased their price objective on shares of Everpure from $84.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Susquehanna reissued a “positive” rating and set a $145.00 target price on shares of Everpure in a research report on Thursday, August 27th. Finally, Oppenheimer restated an “outperform” rating and issued a $140.00 target price on shares of Everpure in a research note on Thursday, August 20th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.10.

Everpure Price Performance

NYSE P opened at $98.05 on Friday. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 134.32, a P/E/G ratio of 3.95 and a beta of 1.43. The company has a fifty day moving average of $90.17. Everpure has a 12 month low of $56.78 and a 12 month high of $119.10.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The firm had revenue of $1.19 billion for the quarter. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, research analysts anticipate that Everpure will post 0.96 EPS for the current fiscal year.

Insider Activity at Everpure

In related news, Director Susan J.S. Taylor sold 8,543 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total value of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at approximately $7,733,257.92. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 200,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $96.98, for a total value of $19,396,000.00. Following the transaction, the insider directly owned 6,474,080 shares of the company’s stock, valued at approximately $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 717,520 shares of company stock valued at $70,172,896 over the last quarter. 5.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Everpure Company Profile

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair’s global water-solutions business.