Everpure (NYSE:P) Raised to Positive at Susquehanna

Everpure (NYSE:P) was upgraded by Susquehanna from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $120.00 price objective on the stock. Susquehanna’s price objective suggests a potential upside of 33.44% from the stock’s previous close.

Several other equities research analysts have also weighed in on P. Guggenheim boosted their target price on Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Everpure in a report on Thursday, May 28th. TD Cowen reissued a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. Lake Street Capital boosted their price objective on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Zacks Research lowered shares of Everpure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.30.

Everpure Price Performance

Everpure stock opened at $89.92 on Monday. Everpure has a one year low of $54.37 and a one year high of $100.59. The stock’s fifty day simple moving average is $75.54. The firm has a market capitalization of $29.89 billion, a P/E ratio of 136.25, a price-to-earnings-growth ratio of 5.10 and a beta of 1.45.

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

Insiders Place Their Bets

In related news, insider Ajay Singh sold 9,787 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the transaction, the insider owned 340,939 shares of the company’s stock, valued at approximately $26,634,154.68. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan J.S. Taylor sold 8,543 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares of the company’s stock, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 327,800 shares of company stock valued at $25,819,007 in the last 90 days. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in P. State Street Corp lifted its stake in shares of Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company’s stock valued at $733,994,000 after buying an additional 88,583 shares during the period. Geode Capital Management LLC increased its stake in Everpure by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock valued at $515,972,000 after acquiring an additional 207,317 shares during the period. Norges Bank acquired a new position in Everpure in the 4th quarter valued at approximately $265,327,000. Atreides Management LP acquired a new position in Everpure in the 2nd quarter valued at approximately $204,552,000. Finally, AQR Capital Management LLC lifted its position in shares of Everpure by 62.7% in the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock worth $228,820,000 after acquiring an additional 1,315,351 shares during the period. Institutional investors 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.