SunPower Co. (SPWR) Given Consensus Rating of “Hold” by Analysts

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Shares of SunPower Co. (NASDAQ:SPWR) have been given an average rating of “Hold” by the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.16.

A number of brokerages have issued reports on SPWR. Credit Suisse Group cut SunPower from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $7.00 in a report on Friday, February 15th. Bank of America lowered SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 target price for the company. in a research note on Friday, February 15th. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded SunPower from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Wednesday, January 9th. Finally, Barclays initiated coverage on SunPower in a research note on Monday, January 7th. They issued an “underweight” rating and a $4.00 target price for the company.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in SunPower in the 4th quarter valued at $5,873,000. Vanguard Group Inc lifted its stake in SunPower by 10.2% during the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the last quarter. Vanguard Group Inc. lifted its stake in SunPower by 10.2% during the third quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the last quarter. Rock Point Advisors LLC lifted its stake in SunPower by 46.7% during the third quarter. Rock Point Advisors LLC now owns 596,940 shares of the semiconductor company’s stock worth $4,358,000 after purchasing an additional 189,990 shares during the last quarter. Finally, Baker Avenue Asset Management LP lifted its stake in SunPower by 73.4% during the third quarter. Baker Avenue Asset Management LP now owns 219,919 shares of the semiconductor company’s stock worth $1,605,000 after purchasing an additional 93,098 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

SPWR stock traded down $0.10 during midday trading on Friday, hitting $6.43. The stock had a trading volume of 1,005,931 shares, compared to its average volume of 1,714,075. The stock has a market cap of $923.21 million, a P/E ratio of -7.31 and a beta of 2.30. SunPower has a 52 week low of $4.55 and a 52 week high of $10.00. The company has a debt-to-equity ratio of 39.39, a current ratio of 1.52 and a quick ratio of 1.09.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.13. The firm had revenue of $525.40 million during the quarter, compared to analysts’ expectations of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. SunPower’s quarterly revenue was down 36.2% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Equities research analysts anticipate that SunPower will post -1.11 EPS for the current year.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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