Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $71.00

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by equities researchers at Royal Bank of Canada from $85.00 to $71.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.63% from the stock’s current price.

A number of other equities research analysts have also recently commented on ENPH. The Goldman Sachs Group reduced their price target on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. William Blair initiated coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Friday, November 8th. Canaccord Genuity Group restated a “hold” rating and issued a $76.00 target price on shares of Enphase Energy in a report on Tuesday. Finally, HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $154.00 to $81.00 in a report on Friday, November 8th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.63.

Enphase Energy Trading Up 1.0 %

Shares of ENPH stock traded up $0.61 during trading hours on Friday, hitting $64.18. 470,770 shares of the company’s stock traded hands, compared to its average volume of 4,043,824. 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 12 month low of $58.33 and a 12 month high of $141.63. The stock has a market cap of $8.67 billion, a PE ratio of 145.75, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. The stock’s 50 day simple moving average is $91.80 and its 200 day simple moving average is $106.49.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate 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 return on equity of 10.56% and a net margin of 4.91%. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, sell-side analysts anticipate that Enphase Energy will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 0.9% in the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after buying an additional 58,040 shares during the period. Swedbank AB bought a new stake in Enphase Energy during the first quarter worth about $424,130,000. Geode Capital Management LLC grew its holdings in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 during the last quarter. Finally, Electron Capital Partners LLC boosted its position 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 worth $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.