Everpure (NYSE:P) Upgraded at Zacks Research

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

A number of other analysts also recently weighed in on P. DA Davidson set a $100.00 price target on shares of Everpure in a research report on Wednesday, July 1st. Wells Fargo & Company upped their price target on shares of Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Northland Securities set a $90.00 price target on shares of Everpure in a report on Thursday, May 28th. William Blair reiterated an “outperform” rating on shares of Everpure in a research note on Thursday, May 28th. Finally, Barclays raised their price objective on shares of Everpure from $81.00 to $84.00 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 issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.50.

Everpure Stock Performance

NYSE:P opened at $69.25 on Thursday. Everpure has a one year low of $54.37 and a one year high of $100.59. The stock has a 50-day simple moving average of $76.89. The firm has a market capitalization of $23.02 billion, a PE ratio of 104.93, a price-to-earnings-growth ratio of 3.93 and a beta of 1.45.

Everpure (NYSE:P) last issued its quarterly earnings results 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 firm 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 business posted $0.29 earnings per share. Everpure’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, equities research analysts expect that Everpure will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Everpure news, Director Susan J.S. Taylor sold 8,543 shares of the firm’s stock in a transaction 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 sale, the director directly owned 94,608 shares in the company, valued at approximately $7,733,257.92. This trade represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mallun Yen sold 4,735 shares of the business’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 approximately $3,328,308.90. This trade represents a 9.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 772,345 shares of company stock valued at $59,454,825 in the last three months. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everpure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Everpure in the fourth quarter worth about $265,327,000. Atreides Management LP acquired a new position in Everpure during the 2nd quarter valued at about $204,552,000. Polar Capital Holdings Plc raised its position in shares of Everpure by 90.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock worth $237,278,000 after buying an additional 1,345,207 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Everpure by 62.7% during the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock worth $228,820,000 after buying an additional 1,315,351 shares in the last quarter. Finally, Turiya Advisors Asia Ltd acquired a new stake in shares of Everpure in the 4th quarter worth approximately $67,010,000. 83.42% of the stock is owned by institutional investors.

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.