Everpure, Inc. (NYSE:P) Stock Has Average Target Price of $143.25 According to Brokerages

Shares of Everpure, Inc. (NYSE:P) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $148.65.

P has been the subject of several recent research reports. Citigroup increased their price objective on Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Zacks Research raised shares of Everpure from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Needham & Company LLC upped their price target on Everpure from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Northland Securities set a $167.00 price objective on Everpure and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Finally, Wall Street Zen lowered Everpure from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th.

Everpure Stock Performance

Shares of P opened at $93.35 on Friday. Everpure has a 12 month low of $56.78 and a 12 month high of $157.57. The firm has a 50 day simple moving average of $120.03. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 137.99, a P/E/G ratio of 3.73 and a beta of 1.43.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. The company had revenue of $1.19 billion during the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. Everpure’s revenue was up 37.7% on a year-over-year basis. On average, analysts anticipate that Everpure will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the sale, the insider owned 6,474,080 shares of the company’s stock, valued at $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott Dietzen sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total value of $8,496,000.00. Following the completion of the transaction, the director directly owned 70,000 shares in the company, valued at approximately $9,912,000. This trade represents a 46.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,110,186 shares of company stock worth $131,424,120 over the last quarter. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everpure

Several large investors have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY acquired a new stake in Everpure in the 2nd quarter valued at about $2,127,000. Nykredit A S acquired a new position in Everpure during the 2nd quarter worth approximately $9,412,000. Wellington Management Group LLP acquired a new stake in shares of Everpure in the 2nd quarter valued at $2,192,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Everpure during the 2nd quarter worth $814,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Everpure during the second quarter worth $25,525,000. 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.