Needham & Company LLC Reaffirms “Buy” Rating for Everpure (NYSE:P)

Everpure (NYSE:P)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $140.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 43.23% from the company’s previous close.

P has been the topic of several other reports. Wells Fargo & Company upped their price target on shares of Everpure from $97.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Susquehanna reissued a “positive” rating and issued a $145.00 price objective on shares of Everpure in a report on Thursday, August 27th. Barclays upped their target price on Everpure from $84.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everpure in a report on Friday, July 17th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $122.00 price target on shares of Everpure in a research report on Thursday, August 27th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everpure currently has a consensus rating of “Moderate Buy” and an average target price of $129.10.

Everpure Stock Up 0.8%

P opened at $97.74 on Thursday. Everpure has a 12-month low of $56.78 and a 12-month high of $119.10. The stock’s 50 day simple moving average is $91.26. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 133.90, a PEG ratio of 3.90 and a beta of 1.43.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. The business had revenue of $1.19 billion for the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts anticipate that Everpure will post 0.96 EPS for the current fiscal year.

Insider Transactions at Everpure

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock worth $515,972,000 after purchasing an additional 207,317 shares during the last quarter. Norges Bank purchased a new stake in Everpure during the 4th quarter worth approximately $265,327,000. Franklin Resources Inc. raised its holdings in shares of Everpure by 28.5% during the fourth quarter. Franklin Resources Inc. now owns 3,007,431 shares of the company’s stock valued at $201,528,000 after acquiring an additional 666,941 shares during the last quarter. Mariner LLC raised its holdings in shares of Everpure by 3.1% during the fourth quarter. Mariner LLC now owns 2,679,161 shares of the company’s stock valued at $179,538,000 after acquiring an additional 80,039 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Everpure by 20.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,554,240 shares of the company’s stock valued at $104,150,000 after acquiring an additional 265,846 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Everpure Company Profile

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.