Everpure (NYSE:P) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Everpure (NYSE:P) from a strong-buy rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities analysts also recently weighed in on P. William Blair reaffirmed an “outperform” rating on shares of Everpure in a report on Thursday, May 28th. Wells Fargo & Company raised their price objective on shares of Everpure from $97.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Piper Sandler restated an “overweight” rating and set a $133.00 target price (up from $92.00) on shares of Everpure in a research note on Thursday, August 27th. Susquehanna restated a “positive” rating and set a $145.00 target price on shares of Everpure in a research note on Thursday, August 27th. Finally, DA Davidson set a $100.00 price target on Everpure in a research note on Wednesday, July 1st. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Everpure has an average rating of “Moderate Buy” and a consensus target price of $129.10.

Everpure Stock Down 4.5%

NYSE:P opened at $93.73 on Friday. The firm’s 50-day moving average is $90.49. Everpure has a 52-week low of $56.78 and a 52-week high of $119.10. The company has a market capitalization of $31.23 billion, a price-to-earnings ratio of 128.39, a PEG ratio of 3.95 and a beta of 1.43.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The firm 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 quarterly revenue was up 37.7% on a year-over-year basis. On average, equities analysts anticipate that Everpure will post 0.96 earnings per share for the current year.

Insider Buying and Selling at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the transaction, the insider owned 340,939 shares in the company, valued at $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan J.S. Taylor sold 8,543 shares of Everpure 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 completion of the sale, the director directly owned 94,608 shares in the company, valued at $7,733,257.92. This trade represents a 8.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 817,520 shares of company stock worth $79,667,896. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in P. Sequoia Financial Advisors LLC purchased a new stake in shares of Everpure during the 2nd quarter worth approximately $814,000. Tidal Investments LLC purchased a new position in shares of Everpure in the second quarter valued at $14,252,000. Van Hulzen Asset Management LLC purchased a new position in shares of Everpure in the second quarter valued at $5,382,000. One Capital Management LLC bought a new stake in Everpure in the second quarter worth $2,301,000. Finally, National Pension Service bought a new stake in Everpure in the second quarter worth $4,400,000. 83.42% of the stock is owned by institutional investors.

About Everpure

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.