Royal Bank of Canada Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price reduced by stock analysts at Royal Bank of Canada from $85.00 to $71.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.63% from the company’s previous close.

Several other equities analysts have also recently issued reports on ENPH. Craig Hallum lowered their price objective on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Janney Montgomery Scott lowered Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $101.63.

Enphase Energy Stock Up 1.0 %

ENPH traded up $0.61 on Friday, reaching $64.18. The company’s stock had a trading volume of 470,770 shares, compared to its average volume of 4,043,824. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 145.75, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. The business’s 50 day moving average is $91.80 and its 200 day moving average is $106.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63.

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

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in shares of Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after purchasing an additional 58,040 shares during the period. Swedbank AB acquired a new position in Enphase Energy in the first quarter valued at about $424,130,000. Geode Capital Management LLC raised its position in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after buying an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Electron Capital Partners LLC increased its stake in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.