Everpure (NYSE:P) Shares Down 5.2% – What’s Next?

Shares of Everpure, Inc. (NYSE:P) traded down 5.2% on Tuesday . The stock traded as low as $107.20 and last traded at $107.7910. 622,842 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 3,674,111 shares. The stock had previously closed at $113.66.

Wall Street Analyst Weigh In

Several research firms recently issued reports on P. Lake Street Capital reaffirmed a “buy” rating and set a $120.00 price target on shares of Everpure in a research note on Thursday, August 27th. Zacks Research lowered Everpure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Needham & Company LLC assumed coverage on Everpure in a report on Thursday, September 17th. They issued a “buy” rating and a $140.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Everpure in a report on Friday, July 17th. Finally, Evercore reiterated an “outperform” rating and set a $130.00 target price on shares of Everpure in a research note on Monday, August 24th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.10.

Everpure Price Performance

The stock has a market cap of $36.30 billion, a price-to-earnings ratio of 149.76, a price-to-earnings-growth ratio of 4.19 and a beta of 1.43. The stock has a 50 day moving average price of $92.97.

Everpure (NYSE:P) last released its earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. The company had revenue of $1.19 billion for the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The firm’s revenue was up 37.7% on a year-over-year basis. Sell-side analysts forecast that Everpure, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling

In other Everpure news, Director Susan J.S. Taylor sold 8,543 shares of Everpure stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total value of $698,304.82. Following the completion of the transaction, the director owned 94,608 shares of the company’s stock, valued at $7,733,257.92. The trade was a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the sale, the insider owned 6,474,080 shares of the company’s stock, valued at approximately $627,856,278.40. The trade was a 3.00% 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 812,785 shares of company stock worth $79,303,775 over the last ninety days. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Everpure

Large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Everpure during the 2nd quarter worth approximately $814,000. Tidal Investments LLC acquired a new position in Everpure during the 2nd quarter valued at approximately $14,252,000. Van Hulzen Asset Management LLC acquired a new position in Everpure during the 2nd quarter valued at approximately $5,382,000. One Capital Management LLC bought a new position in Everpure during the 2nd quarter worth $2,301,000. Finally, National Pension Service bought a new position in Everpure during the 2nd quarter worth $4,400,000. Institutional investors own 83.42% of the company’s stock.

Everpure Company Profile

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair’s global water-solutions business.