Seaport Res Ptn Raises Earnings Estimates for Altus Power

Altus Power, Inc. (NYSE:AMPS) – Investment analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Altus Power in a note issued to investors on Thursday, November 14th. Seaport Res Ptn analyst J. Campbell now expects that the company will post earnings of $0.12 per share for the year, up from their previous forecast of $0.02. The consensus estimate for Altus Power’s current full-year earnings is $0.14 per share. Seaport Res Ptn also issued estimates for Altus Power’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.07) EPS, Q1 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.05 EPS and FY2026 earnings at ($0.02) EPS.

Other research analysts have also recently issued research reports about the stock. Maxim Group lowered their price target on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Citigroup lowered their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. UBS Group cut their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price objective on shares of Altus Power in a research report on Wednesday, October 16th. Finally, Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.81.

Altus Power Stock Performance

Shares of Altus Power stock opened at $3.84 on Monday. The business has a 50-day simple moving average of $3.36 and a 200-day simple moving average of $3.70. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.91 and a current ratio of 0.60. Altus Power has a one year low of $2.71 and a one year high of $7.28. The company has a market cap of $616.63 million, a PE ratio of 17.43 and a beta of 0.94.

Institutional Trading of Altus Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Altus Power by 312.8% during the third quarter. Barclays PLC now owns 115,987 shares of the company’s stock worth $369,000 after acquiring an additional 87,886 shares during the last quarter. XTX Topco Ltd purchased a new stake in Altus Power in the 3rd quarter valued at $425,000. State Street Corp boosted its stake in Altus Power by 0.6% during the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock worth $11,712,000 after purchasing an additional 21,312 shares during the period. Janus Henderson Group PLC boosted its stake in Altus Power by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 44,792 shares of the company’s stock worth $142,000 after purchasing an additional 3,709 shares during the period. Finally, HighTower Advisors LLC purchased a new position in Altus Power during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.