Enphase Energy (NASDAQ:ENPH) Price Target Cut to $71.00 by Analysts at Royal Bank of Canada

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Royal Bank of Canada from $85.00 to $71.00 in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on ENPH. Raymond James lowered their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research note on Friday, November 8th. Northland Securities decreased their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Citigroup decreased their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Bank of America decreased their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $101.13.

Enphase Energy Trading Up 8.5 %

Shares of Enphase Energy stock opened at $71.91 on Friday. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 163.43, a PEG ratio of 20.32 and a beta of 1.77. The business has a 50-day moving average price of $90.14 and a 200-day moving average price of $105.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. Equities research analysts anticipate that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in shares of Enphase Energy by 198.3% in the first quarter. Bessemer Group Inc. now owns 1,897 shares of the semiconductor company’s stock worth $229,000 after acquiring an additional 1,261 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Enphase Energy in the first quarter worth about $59,128,000. Bayesian Capital Management LP acquired a new position in shares of Enphase Energy in the first quarter worth about $7,668,000. Vancity Investment Management Ltd raised its position in shares of Enphase Energy by 2.9% in the first quarter. Vancity Investment Management Ltd now owns 56,124 shares of the semiconductor company’s stock worth $6,789,000 after acquiring an additional 1,559 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Enphase Energy by 2.0% in the first quarter. California State Teachers Retirement System now owns 228,004 shares of the semiconductor company’s stock worth $27,584,000 after acquiring an additional 4,469 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.