Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by Royal Bank of Canada

Royal Bank of Canada lowered shares of Enphase Energy (NASDAQ:ENPH) from an outperform rating to a sector perform rating in a report issued on Tuesday morning, MarketBeat.com reports. Royal Bank of Canada currently has $100.00 price objective on the semiconductor company’s stock, down from their previous price objective of $125.00.

A number of other research analysts have also recently issued reports on ENPH. Barclays reduced their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Susquehanna raised their price target on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective for the company. Craig Hallum raised their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Roth Mkm reiterated a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.96.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $91.57 on Tuesday. The firm has a market capitalization of $12.46 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The business’s 50-day moving average price is $111.57 and its 200-day moving average price is $113.05.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Sell-side analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. grew its position in Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the last quarter. Fermata Advisors LLC grew its holdings in shares of Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after buying an additional 100 shares during the last quarter. Hollencrest Capital Management increased its position in shares of Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 100 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its position in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after acquiring an additional 102 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.