Everpure (NYSE:P) Lowered to Hold Rating by Zacks Research

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

Other research analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Everpure in a report on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. William Blair reissued an “outperform” rating on shares of Everpure in a research note on Thursday, May 28th. Guggenheim raised their price objective on shares of Everpure from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a report on Thursday, May 28th. Thirteen 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 stock. According to data from MarketBeat.com, Everpure currently has an average rating of “Moderate Buy” and an average target price of $96.50.

Everpure Trading Down 1.6%

Everpure stock opened at $73.02 on Monday. Everpure has a fifty-two week low of $54.37 and a fifty-two week high of $100.59. The company 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. The stock has a fifty day moving average price of $75.75.

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 the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $997.88 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, equities research analysts forecast that Everpure will post 0.92 EPS for the current year.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown sold 4,735 shares of Everpure stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the transaction, the director owned 27,683 shares in the company, valued at approximately $2,008,955.31. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan J.S. Taylor sold 8,543 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $81.74, for a total value 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. This trade represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 572,345 shares of company stock valued at $45,408,075 over the last three months. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Everpure

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in Everpure by 108.2% in the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after acquiring an additional 199 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Everpure by 2,884.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock worth $29,000 after purchasing an additional 375 shares during the last quarter. Banque Transatlantique SA purchased a new position in Everpure during the 3rd quarter valued at about $29,000. Finally, Reflection Asset Management purchased a new position in Everpure during the 4th quarter valued at about $32,000. Hedge funds and other 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.