Everpure (NYSE:P) Sets New 12-Month High – Time to Buy?

Everpure, Inc. (NYSE:P) reached a new 52-week high on Tuesday. The stock traded as high as $144.03 and last traded at $143.8690, with a volume of 4959633 shares. The stock had previously closed at $140.14.

Key Headlines Impacting Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Higher long-term targets fuel rally: Everpure’s stock has risen about 36% since the company raised its long-term revenue targets at a recent investor day. Investors appear increasingly optimistic about demand for its data-storage products from AI and data-center customers. Everpure Stock Rides 10-Day Winning Streak
• Positive Sentiment: Analyst consensus remains favorable: Twenty-one firms collectively rate Everpure a “Moderate Buy,” with 17 Buy ratings, three Holds and one Sell. Recent target-price increases from Citigroup, Morgan Stanley and other firms reinforce the improving outlook, although the consensus target cited in the report is below the current share price. Everpure Rated Moderate Buy
• Positive Sentiment: Positive investor commentary: Jim Cramer said Everpure could have additional room to run, potentially supporting retail-investor interest and near-term momentum. Jim Cramer on Everpure
• Neutral Sentiment: Strong operating backdrop: Everpure recently reported quarterly revenue growth of 37.7% and earnings of $0.70 per share versus the $0.19 analyst estimate. Institutional investors own approximately 83.4% of the shares, indicating substantial professional-investor participation.
• Negative Sentiment: Valuation and insider-sale risks: A valuation analysis from GuruFocus called the stock overvalued after its rally. Everpure trades at roughly 209 times earnings and a PEG ratio of 4.80, increasing the risk of volatility if growth expectations weaken. Separately, Chief Accounting Officer Mona Chu sold 2,852 shares for approximately $400,000, though she retained more than 131,000 shares. Everpure Valuation Analysis

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson set a $100.00 price target on Everpure in a research note on Wednesday, July 1st. Wall Street Zen downgraded Everpure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Needham & Company LLC raised their price objective on Everpure from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Guggenheim reiterated a “buy” rating and issued a $150.00 target price on shares of Everpure in a research report on Thursday, September 24th. Finally, Zacks Research cut Everpure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.25.

Everpure Trading Up 3.9%

The firm has a 50 day simple moving average of $107.11. The company has a market capitalization of $50.96 billion, a PE ratio of 209.47, a P/E/G ratio of 4.91 and a beta of 1.39.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The company had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The company’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, sell-side analysts forecast that Everpure, Inc. will post 0.95 earnings per share for the current year.

Insider Activity

In other news, insider Ajay Singh sold 42,930 shares of Everpure stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $124.17, for a total transaction of $5,330,618.10. Following the sale, the insider directly owned 288,362 shares of the company’s stock, valued at approximately $35,805,909.54. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $96.98, for a total value of $19,396,000.00. Following the sale, the insider owned 6,474,080 shares in the company, 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 1,035,502 shares of company stock valued at $105,858,759 over the last quarter. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Everpure

Several hedge funds have recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC grew its holdings in Everpure by 3.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 2,113 shares of the company’s stock worth $276,000 after acquiring an additional 73 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Everpure by 15.7% during the third quarter. Versant Capital Management Inc now owns 3,761 shares of the company’s stock valued at $492,000 after acquiring an additional 509 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Everpure during the second quarter valued at $1,110,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Everpure during the second quarter worth $785,000. Finally, Andra AP fonden acquired a new position in shares of Everpure during the second quarter worth $5,230,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.