Enphase Energy (NASDAQ:ENPH) Upgraded by Canaccord Genuity Group to “Buy” Rating

Enphase Energy (NASDAQ:ENPH) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $82.00 price target on the semiconductor company’s stock, up from their prior price target of $76.00. Canaccord Genuity Group’s target price would suggest a potential upside of 23.77% from the stock’s previous close.

Several other research firms also recently issued reports on ENPH. TD Cowen reduced their price target on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Oppenheimer lowered their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Finally, Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a research note on Friday, January 31st. Three 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. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $93.42.

Enphase Energy Stock Up 3.7 %

ENPH stock opened at $66.25 on Wednesday. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. The business’s 50 day simple moving average is $69.02 and its 200 day simple moving average is $89.11. 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 firm has a market capitalization of $8.95 billion, a PE ratio of 150.57, a PEG ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. As a group, research analysts anticipate that Enphase Energy will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC lifted its stake in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the period. UMB Bank n.a. lifted its position in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC bought a new position in Enphase Energy during the third quarter worth $34,000. Stone House Investment Management LLC acquired a new stake in Enphase Energy in the third quarter worth $34,000. Finally, Quarry LP bought a new stake in Enphase Energy in the third quarter valued at $37,000. Institutional investors own 72.12% of the company’s stock.

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.