Everpure (NYSE:P) Hits New 52-Week High – Time to Buy?

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

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure was added to the Invesco S&P 500 Equal Weight ETF (RSP), which could generate incremental passive demand and improve visibility for the data-storage company. Invesco S&P 500 Equal Weight ETF Adds Moderna and Everpure
• Positive Sentiment: The company’s latest reported quarter remains a fundamental support: revenue increased 37.7% year over year to $1.19 billion, while earnings per share of $0.70 exceeded the $0.19 consensus estimate. Analysts maintain a generally favorable “Moderate Buy” consensus, although the average price target of $143.25 is below recent highs.
• Neutral Sentiment: Everpure was caught in a broader technology-stock selloff after September inflation reached 3.7%, above expectations. Higher energy costs pushed bond yields upward, pressuring high-growth companies regardless of company-specific fundamentals. Technology Stocks Fall as Inflation and Bond Yields Rise
• Negative Sentiment: Insider selling is weighing on investor confidence. Insider John Colgrove sold 100,000 shares for approximately $15.4 million, while Director Andrew Brown and CAO Mona Chu also sold shares. Colgrove’s transaction was conducted under a pre-arranged Rule 10b5-1 plan, meaning it does not necessarily indicate a negative outlook, but the repeated sales can still pressure sentiment. Everpure Insider Sells Stock
• Negative Sentiment: Valuation remains a major risk. Everpure trades at roughly 179 times earnings with a PEG ratio above 5, leaving the stock vulnerable to profit-taking if growth slows or future results do not exceed elevated expectations.

Wall Street Analyst Weigh In

Several brokerages recently commented on P. Wells Fargo & Company boosted their target price on Everpure from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Guggenheim increased their price target on Everpure from $150.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings upgraded shares of Everpure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Piper Sandler lifted their target price on Everpure from $133.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. Finally, DA Davidson set a $100.00 price target on shares of Everpure in a research note on Wednesday, July 1st. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Everpure has an average rating of “Moderate Buy” and an average price target of $143.25.

Everpure Trading Down 6.5%

The stock has a market cap of $44.06 billion, a PE ratio of 180.45, a P/E/G ratio of 5.24 and a beta of 1.39. The stock has a fifty day simple moving average of $114.28.

Everpure (NYSE:P) last released its 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 firm had revenue of $1.19 billion for the quarter. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. Equities research analysts anticipate that Everpure, Inc. will post 0.95 earnings per share for the current year.

Insider Buying and Selling at Everpure

In other news, CAO Mona Chu sold 5,112 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $151.40, for a total transaction of $773,956.80. Following the completion of the sale, the chief accounting officer owned 125,982 shares of the company’s stock, valued at approximately $19,073,674.80. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mallun Yen sold 11,942 shares of Everpure stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $146.97, for a total value of $1,755,115.74. Following the completion of the transaction, the director owned 31,339 shares of the company’s stock, valued at approximately $4,605,892.83. The trade was a 27.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,056,824 shares of company stock worth $116,444,768 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Everpure by 504.0% during the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock worth $130,003,000 after buying an additional 829,476 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Everpure by 1.9% during the third quarter. State of Alaska Department of Revenue now owns 31,491 shares of the company’s stock worth $4,118,000 after purchasing an additional 573 shares during the last quarter. Curated Wealth Partners LLC purchased a new position in shares of Everpure during the third quarter worth approximately $432,000. Mather Group LLC. lifted its holdings in shares of Everpure by 749.8% in the 3rd quarter. Mather Group LLC. now owns 1,759 shares of the company’s stock worth $230,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Everpure by 49.0% in the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after purchasing an additional 119 shares during the last quarter. 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.