Everpure (NYSE:P) Shares Down 8.1% – Here’s Why

Shares of Everpure, Inc. (NYSE:P) fell 8.1% on Tuesday . The company traded as low as $81.22 and last traded at $80.2760. 707,729 shares were traded during trading, a decline of 78% from the average session volume of 3,264,309 shares. The stock had previously closed at $87.34.

Analysts Set New Price Targets

Several research firms recently issued reports on P. Wall Street Zen raised shares of Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Wells Fargo & Company decreased their price objective on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Northland Securities raised shares of Everpure from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $77.00 to $81.00 in a research report on Monday, March 9th. Weiss Ratings started coverage on shares of Everpure in a research note on Monday, April 20th. They issued a “hold (c)” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $100.00 price target on shares of Everpure in a research report on Monday, February 23rd. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Everpure presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.21.

Everpure Stock Down 1.0%

The stock has a market cap of $27.61 billion, a PE ratio of 151.93, a P/E/G ratio of 6.22 and a beta of 1.44.

Everpure (NYSE:P) last released its earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts anticipate that Everpure, Inc. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $85.93, for a total value of $17,186,000.00. Following the transaction, the insider owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 534,265 shares of company stock worth $41,321,234 in the last quarter. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Everpure

Several hedge funds have recently made changes to their positions in P. Winnow Wealth LLC bought a new position in Everpure in the 3rd quarter worth about $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Everpure during the third quarter valued at approximately $27,000. Salomon & Ludwin LLC boosted its position in shares of Everpure by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after buying an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Everpure during the third quarter worth approximately $28,000. Finally, Sunbelt Securities Inc. grew its holdings in Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after buying an additional 244 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

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.