Bank of America has lowered the price target for Enphase Energy from $135.00 to $114.00. The semiconductor company’s stock has recently received mixed ratings from analysts, with some lowering their target prices. Enphase Energy’s stock opened at $119.92 on Thursday, with a 52-week low of $116.86 and a high of $339.92. The company reported better-than-expected earnings results for the quarter, with a net margin of 20.48% and a return on equity of 71.20%. Director Thurman J.
Bank of America has lowered its target price for Enphase Energy from $135.00 to $114.00, according to a research report released on Thursday morning. The semiconductor company currently has an underperform rating from Bank of America.
Other equities analysts have also weighed in on Enphase Energy. Susquehanna lowered their target price on the stock from $225.00 to $200.00 and gave it a positive rating. KeyCorp decreased their target price from $267.00 to $200.00 and gave the company an overweight rating. Wolfe Research downgraded Enphase Energy from an outperform rating to a peer perform rating. Craig Hallum dropped their target price from $259.00 to $190.00 and gave the stock a buy rating. Deutsche Bank Aktiengesellschaft also downgraded Enphase Energy from a buy rating to a hold rating and lowered their price target from $200.00 to $165.00.
Enphase Energy has received a consensus rating of Moderate Buy from analysts, with one analyst rating the stock as a sell, eight analysts rating it as hold, and nineteen analysts rating it as a buy. The consensus target price for the stock is $232.31, according to MarketBeat.
Enphase Energy opened at $119.92 on Thursday. The stock has a fifty-two week low of $116.86 and a fifty-two week high of $339.92. The company has a 50-day simple moving average of $138.95 and a 200-day simple moving average of $167.19. Enphase Energy has a debt-to-equity ratio of 1.23, a current ratio of 3.44, and a quick ratio of 3.22. The company has a market cap of $16.35 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.38, and a beta of 1.52.
On Thursday, July 27th, Enphase Energy announced its earnings results. The company reported earnings per share (EPS) of $1.16 for the quarter, beating the consensus estimate of $0.95 by $0.21. Enphase Energy had a net margin of 20.48% and a return on equity of 71.20%. The company had revenue of $711.12 million for the quarter, compared to the consensus estimate of $726.94 million. Equities research analysts predict that Enphase Energy will post 3.75 EPS for the current year.
Director Thurman J. Rodgers purchased 32,600 shares of Enphase Energy stock on Thursday, September 14th. The shares were bought at an average price of $122.76 per share, for a total transaction of $4,001,976.00. Following the acquisition, Rodgers now owns 85,200 shares in the company, valued at approximately $10,459,152. The transaction was disclosed in a legal filing with the SEC.
Institutional investors and hedge funds have recently made changes to their holdings of Enphase Energy. Prosperity Wealth Management Inc. acquired a new stake in the company during the second quarter. BOKF NA increased its holdings in Enphase Energy by 1,777.3% during the same quarter. VitalStone Financial LLC boosted its position in the company by 6,204.6% in the second quarter. VisionPoint Advisory Group LLC acquired a new stake in Enphase Energy in the second quarter. Peterson Wealth Management also acquired a new position in the company during the second quarter. Currently, 71.05% of the stock is owned by institutional investors.
Enphase Energy, Inc. designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry. The company offers semiconductor-based microinverters, which convert energy at the individual solar module level and provide energy monitoring and control services through proprietary networking and software technologies.
Source: m.capitalwatch.com
