Everpure (NYSE:P) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Everpure (NYSE:P) posted its earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07, FiscalAI reports. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million.

Everpure Trading Down 2.8%

NYSE P traded down $2.49 on Wednesday, hitting $85.86. 5,315,504 shares of the company’s stock were exchanged, compared to its average volume of 3,295,069. Everpure has a fifty-two week low of $50.20 and a fifty-two week high of $100.59. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 156.11, a PEG ratio of 6.52 and a beta of 1.44.

Insider Transactions at Everpure

In other Everpure news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the transaction, the insider owned 6,625,221 shares in the company, valued at approximately $569,305,240.53. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 534,265 shares of company stock worth $41,321,234. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. One Capital Management LLC increased its position in Everpure by 1.0% during the 3rd quarter. One Capital Management LLC now owns 14,750 shares of the company’s stock worth $1,236,000 after purchasing an additional 141 shares during the period. Transamerica Financial Advisors LLC increased its position in Everpure by 50.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company’s stock worth $34,000 after purchasing an additional 170 shares during the period. National Bank of Canada FI increased its position in Everpure by 8.6% during the 3rd quarter. National Bank of Canada FI now owns 2,334 shares of the company’s stock worth $196,000 after purchasing an additional 184 shares during the period. Empowered Funds LLC increased its position in Everpure by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $212,000 after purchasing an additional 194 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Everpure by 1.0% during the 4th quarter. Quadrant Capital Group LLC now owns 19,145 shares of the company’s stock worth $1,283,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on P. UBS Group upped their price objective on Everpure from $60.00 to $63.00 and gave the company a “sell” rating in a research note on Thursday, February 26th. Barclays upped their price objective on Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Everpure in a research note on Monday, February 23rd. Piper Sandler reaffirmed a “buy” rating on shares of Everpure in a research note on Thursday, February 26th. Finally, Weiss Ratings began coverage on Everpure in a research note on Monday, April 20th. They set a “hold (c)” rating for the company. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Everpure presently has an average rating of “Moderate Buy” and an average target price of $93.21.

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.