Everpure (NYSE:P) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Everpure (NYSE:P) from a strong-buy rating to a buy rating in a report issued on Saturday.

A number of other research firms have also recently weighed in on P. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everpure in a report on Friday, July 17th. UBS Group raised their target price on Everpure from $63.00 to $70.00 and gave the company a “sell” rating in a research report on Thursday, May 28th. DA Davidson set a $100.00 price target on Everpure in a research note on Wednesday, July 1st. TD Cowen restated a “buy” rating on shares of Everpure in a research note on Wednesday, July 1st. Finally, Guggenheim upped their price target on Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.50.

Everpure Stock Up 3.1%

Shares of NYSE P opened at $89.92 on Friday. The firm has a market cap of $29.89 billion, a PE ratio of 136.25, a price-to-earnings-growth ratio of 5.10 and a beta of 1.45. The stock’s 50 day moving average price is $75.54. Everpure has a 12 month low of $54.37 and a 12 month high of $100.59.

Everpure (NYSE:P) last posted its earnings results 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 net margin of 5.75% and a return on equity of 15.97%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the previous year, the business posted $0.29 EPS. The business’s revenue was up 35.2% compared to the same quarter last year. On average, equities analysts forecast that Everpure will post 0.92 EPS for the current year.

Insider Transactions at Everpure

In other Everpure news, Director Mallun Yen sold 4,735 shares of Everpure 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 sale, the director owned 43,281 shares of the company’s stock, valued at $3,328,308.90. The trade was a 9.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan J.S. Taylor sold 8,543 shares of Everpure stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total transaction 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 527,800 shares of company stock valued at $43,005,007. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Everpure in the 4th quarter valued at $265,327,000. Atreides Management LP purchased a new position in shares of Everpure during the 2nd quarter worth $204,552,000. Polar Capital Holdings Plc raised its holdings 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 acquiring an additional 1,345,207 shares during the period. AQR Capital Management LLC boosted 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 valued at $228,820,000 after acquiring an additional 1,315,351 shares during the last quarter. Finally, Turiya Advisors Asia Ltd acquired a new position in shares of Everpure during the 4th quarter valued at about $67,010,000. 83.42% of the stock is owned by hedge funds and other 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.