Enphase Energy’s (ENPH) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued to investors on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $76.00 price objective on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial lowered their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. William Blair initiated coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Oppenheimer cut their target price on Enphase Energy from $134.00 to $101.00 and set an “outperform” 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 target price for the company. in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Trading Down 1.7 %

NASDAQ:ENPH opened at $61.36 on Tuesday. Enphase Energy has a 12 month low of $58.33 and a 12 month high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 139.45, a PEG ratio of 18.32 and a beta of 1.77. The firm has a fifty day simple moving average of $93.59 and a two-hundred day simple moving average of $107.09.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during 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 business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. Analysts expect that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Clearbridge Investments LLC bought a new stake in Enphase Energy during the first quarter valued at $12,624,000. Bessemer Group Inc. boosted its position in shares of Enphase Energy by 198.3% during the 1st quarter. Bessemer Group Inc. now owns 1,897 shares of the semiconductor company’s stock valued at $229,000 after acquiring an additional 1,261 shares during the last quarter. Stamos Capital Partners L.P. grew its holdings in shares of Enphase Energy by 185.5% during the first quarter. Stamos Capital Partners L.P. now owns 10,450 shares of the semiconductor company’s stock worth $1,264,000 after purchasing an additional 6,790 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Enphase Energy in the first quarter worth approximately $59,128,000. Finally, Guardian Capital Advisors LP bought a new position in shares of Enphase Energy in the first quarter worth approximately $224,000. 72.12% of the stock is owned by 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.