Everpure (NYSE:P) Rating Increased to Strong-Buy at Zacks Research

Everpure (NYSE:P) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley raised their price target on shares of Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. UBS Group lifted their target price on Everpure from $63.00 to $70.00 and gave the stock a “sell” rating in a research report on Thursday, May 28th. Barclays increased their price target on Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Wall Street Zen upgraded Everpure from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 5th. Finally, Weiss Ratings assumed coverage on Everpure in a report on Monday, April 20th. They set a “hold (c)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Everpure presently has an average rating of “Moderate Buy” and an average price target of $96.50.

Everpure Price Performance

Shares of NYSE P opened at $69.25 on Thursday. The stock has a 50-day moving average of $76.89. The stock has a market capitalization of $23.02 billion, a P/E ratio of 104.93, a price-to-earnings-growth ratio of 3.87 and a beta of 1.45. Everpure has a 1-year low of $54.37 and a 1-year high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same quarter in the prior year, the business earned $0.29 EPS. Everpure’s quarterly revenue was up 35.2% compared to the same quarter last year. Sell-side analysts expect that Everpure will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other Everpure news, insider Ajay Singh sold 9,787 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the sale, the insider owned 340,939 shares in the company, valued at $26,634,154.68. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $79.82, for a total value of $7,982,000.00. Following the transaction, the insider directly owned 2,565,000 shares in the company, valued at approximately $204,738,300. This represents a 3.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 772,345 shares of company stock valued at $59,454,825 over the last three months. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

Hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC raised its holdings in shares of Everpure by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after purchasing an additional 199 shares during the period. Sunbelt Securities Inc. grew its position in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after buying an additional 244 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Everpure by 2,884.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock worth $29,000 after acquiring an additional 375 shares during the period. Banque Transatlantique SA acquired a new stake in Everpure during the third quarter worth about $29,000. Finally, Reflection Asset Management bought a new stake in Everpure in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.