Everpure (NYSE:P) Stock Rating Reaffirmed as “Buy” by Guggenheim

Everpure (NYSE:P)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a note issued to investors on Friday, Benzinga reports. They presently have a $215.00 price target on the stock. Guggenheim‘s price target would suggest a potential upside of 97.88% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Everpure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Northland Securities set a $167.00 target price on shares of Everpure and gave the company an “outperform” rating in a research note on Thursday, September 24th. Barclays upped their price target on shares of Everpure from $110.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Everpure in a research note on Monday, October 12th. Finally, Evercore lifted their price objective on shares of Everpure from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.05.

Everpure Stock Performance

Shares of P stock opened at $108.65 on Friday. Everpure has a 52-week low of $56.78 and a 52-week high of $157.57. The firm has a market capitalization of $36.21 billion, a P/E ratio of 150.83, a P/E/G ratio of 3.55 and a beta of 1.43. The stock has a 50 day moving average price of $120.95 and a 200 day moving average price of $95.92.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (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 business’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, sell-side analysts forecast that Everpure will post 0.95 EPS for the current year.

Insider Transactions at Everpure

In other Everpure news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $145.00, for a total transaction of $14,500,000.00. Following the transaction, the insider directly owned 5,393,309 shares in the company, valued at $782,029,805. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mallun Yen sold 11,942 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $146.97, for a total value of $1,755,115.74. Following the transaction, the director owned 31,339 shares in the company, valued at $4,605,892.83. The trade was a 27.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 745,371 shares of company stock worth $92,333,246 in the last ninety days. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everpure

Institutional investors have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Everpure in the third quarter valued at about $28,000. Provenance Wealth Advisors LLC purchased a new stake in Everpure in the third quarter worth about $47,000. Fortitude Family Office LLC grew its holdings in Everpure by 49.0% during the 3rd quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC bought a new position in Everpure during the 2nd quarter worth about $29,000. Finally, Reyes Financial Architecture Inc. bought a new position in Everpure during the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Everpure Company Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads. The company’s portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.