Everpure (NYSE:P – Get Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.
A number of other research analysts have also recently commented on the company. Wall Street Zen cut Everpure from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Lake Street Capital upped their target price on shares of Everpure from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Citigroup lifted their price objective on Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. DA Davidson set a $100.00 price objective on shares of Everpure in a research report on Wednesday, July 1st. Finally, UBS Group upped their price target on Everpure from $70.00 to $80.00 and gave the company a “sell” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.25.
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Everpure Price Performance
Shares of NYSE P opened at $126.36 on Monday. The firm has a market capitalization of $42.11 billion, a PE ratio of 156.90, a price-to-earnings-growth ratio of 4.24 and a beta of 1.39. Everpure has a 52 week low of $56.78 and a 52 week high of $157.57. The firm has a 50-day simple moving average of $116.80.
Everpure (NYSE:P – Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business had revenue of $1.19 billion for the quarter. Everpure’s revenue for the quarter was up 37.7% on a year-over-year basis. Equities research analysts expect that Everpure will post 0.95 earnings per share for the current fiscal year.
Insider Transactions at Everpure
In other Everpure news, insider John Colgrove sold 200,000 shares of the company’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 completion of the transaction, the insider owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,235,091 shares of company stock valued at $142,276,537. Insiders own 5.10% of the company’s stock.
Hedge Funds Weigh In On Everpure
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JANA Partners Management LP purchased a new position in Everpure in the second quarter worth $77,939,000. Assenagon Asset Management S.A. lifted its holdings in shares of Everpure by 504.0% in the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock valued at $130,003,000 after purchasing an additional 829,476 shares in the last quarter. Artemis Investment Management LLP lifted its stake in Everpure by 100.1% in the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock valued at $101,456,000 after buying an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Everpure in the second quarter valued at $25,525,000. Finally, Engineers Gate Manager LP purchased a new position in Everpure in the 2nd quarter valued at about $25,859,000. Institutional investors and hedge funds own 83.42% of the company’s stock.
About Everpure
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.
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