Everpure (NYSE:P) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Everpure (NYSE:P) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. Piper Sandler reissued an “overweight” rating on shares of Everpure in a research report on Thursday, May 28th. Northland Securities set a $90.00 price target on shares of Everpure in a report on Thursday, May 28th. Wedbush increased their price objective on Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Everpure in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded Everpure from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 5th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Everpure Trading Down 1.6%

Shares of P stock opened at $73.02 on Monday. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 110.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.45. Everpure has a 52-week low of $54.37 and a 52-week high of $100.59. The company’s 50 day simple moving average is $75.75.

Everpure (NYSE:P) last posted its 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 company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $997.88 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Everpure’s revenue was up 35.2% on a year-over-year basis. On average, analysts anticipate that Everpure will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown sold 4,735 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the sale, the director owned 27,683 shares in the company, valued at $2,008,955.31. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan J.S. Taylor sold 8,543 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $81.74, for a total value of $698,304.82. Following the sale, the director directly owned 94,608 shares in the company, valued at approximately $7,733,257.92. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 572,345 shares of company stock worth $45,408,075. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Everpure

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its stake in shares of Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares during the period. Banque Transatlantique SA acquired a new stake in Everpure during the third quarter valued at $29,000. Salomon & Ludwin LLC grew its position in Everpure by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after buying an additional 199 shares during the period. Cornerstone Planning Group LLC increased its holdings in Everpure by 2,884.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock valued at $29,000 after buying an additional 375 shares in the last quarter. Finally, Greenline Wealth Management LLC purchased a new position in Everpure in the fourth quarter valued at $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.