Everpure (NYSE:P) Sees Large Volume Increase – Time to Buy?

Everpure, Inc. (NYSE:P) shares saw unusually-high trading volume on Monday . Approximately 2,399,775 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 3,199,914 shares.The stock last traded at $88.3780 and had previously closed at $78.16.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group increased their price target on Everpure from $60.00 to $63.00 and gave the stock a “sell” rating in a report on Thursday, February 26th. Piper Sandler restated a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Citigroup reduced their target price on shares of Everpure from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Northland Securities upgraded shares of Everpure from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $77.00 to $81.00 in a research note on Monday, March 9th. Finally, Wells Fargo & Company reduced their target price on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.21.

Everpure Trading Up 11.5%

The company has a market capitalization of $28.81 billion, a P/E ratio of 158.52, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P) last released its earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that Everpure, Inc. will post 0.72 earnings per share for the current year.

Insider Activity at Everpure

In related news, insider John Colgrove sold 29,108 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $75.31, for a total value of $2,192,123.48. Following the completion of the sale, the insider owned 467,694 shares in the company, valued at $35,222,035.14. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 334,265 shares of company stock valued at $24,135,234 in the last ninety days. 5.10% of the stock is owned by company insiders.

Institutional Trading of Everpure

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bigelow Investment Advisors LLC acquired a new stake in shares of Everpure in the first quarter valued at about $231,000. Janney Montgomery Scott LLC lifted its stake in shares of Everpure by 46.0% in the first quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company’s stock valued at $1,661,000 after purchasing an additional 8,861 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Everpure by 22.9% in the first quarter. Pictet Asset Management Holding SA now owns 157,702 shares of the company’s stock valued at $9,302,000 after purchasing an additional 29,386 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Everpure in the first quarter valued at about $5,367,000. Finally, Fiduciary Alliance LLC lifted its stake in shares of Everpure by 23.9% in the first quarter. Fiduciary Alliance LLC now owns 13,875 shares of the company’s stock valued at $900,000 after purchasing an additional 2,675 shares during the period. Institutional investors and hedge funds 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.