Everpure (NYSE:P) Reaches New 1-Year High – Here’s What Happened

Shares of Everpure, Inc. (NYSE:P) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $157.57 and last traded at $157.0670, with a volume of 3,286,687 shares traded. The stock had previously closed at $155.31.

Analyst Ratings Changes

A number of analysts have commented on P shares. Evercore reaffirmed an “outperform” rating and set a $145.00 price target on shares of Everpure in a research report on Thursday, September 24th. Wells Fargo & Company increased their price objective on Everpure from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. Northland Securities set a $167.00 price objective on Everpure in a research note on Thursday, September 24th. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of Everpure in a research note on Thursday, September 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $122.00 target price on shares of Everpure in a report on Thursday, August 27th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Everpure has an average rating of “Moderate Buy” and an average target price of $143.25.

Everpure Stock Up 1.1%

The stock has a fifty day moving average price of $111.68. The company has a market capitalization of $52.34 billion, a PE ratio of 215.16, a price-to-earnings-growth ratio of 5.15 and a beta of 1.39.

Everpure (NYSE:P) last announced its quarterly earnings results 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. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company had revenue of $1.19 billion during the quarter. Everpure’s revenue was up 37.7% compared to the same quarter last year. Sell-side analysts predict that Everpure, Inc. will post 0.95 EPS for the current fiscal year.

Insider Activity

In other Everpure news, CAO Mona Chu sold 2,852 shares of Everpure stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $140.20, for a total value of $399,850.40. Following the completion of the transaction, the chief accounting officer owned 131,094 shares of the company’s stock, valued at approximately $18,379,378.80. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajay Singh sold 42,930 shares of the 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 in the company, valued at approximately $35,805,909.54. The trade was a 12.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 947,444 shares of company stock worth $99,631,875 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

A number of hedge funds have recently bought and sold shares of the business. Mariner LLC increased its position in shares of Everpure by 3.1% in the fourth quarter. Mariner LLC now owns 2,679,161 shares of the company’s stock valued at $179,538,000 after buying an additional 80,039 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Everpure by 100.1% during the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock valued at $101,456,000 after buying an additional 388,066 shares in the last quarter. JANA Partners Management LP purchased a new position in shares of Everpure during the 2nd quarter valued at approximately $77,939,000. Engineers Gate Manager LP lifted its position in shares of Everpure by 158.1% during the 4th quarter. Engineers Gate Manager LP now owns 415,037 shares of the company’s stock valued at $27,812,000 after buying an additional 254,211 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in Everpure in the 2nd quarter valued at $25,525,000. Hedge funds and other institutional investors 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.