Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $85.00

Enphase Energy (NASDAQ:ENPH) had its price target dropped by analysts at Royal Bank of Canada from $100.00 to $85.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.51% from the stock’s previous close.

A number of other equities research analysts also recently commented on ENPH. Morgan Stanley reduced their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Wednesday. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. Barclays lowered their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $95.00 price objective (down from $140.00) on shares of Enphase Energy in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $111.56.

Enphase Energy Stock Performance

Shares of ENPH stock traded down $14.61 during midday trading on Wednesday, hitting $77.62. The company had a trading volume of 17,514,180 shares, compared to its average volume of 3,796,965. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company’s 50 day simple moving average is $110.47 and its 200 day simple moving average is $112.47. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 40.55, a PEG ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. Research analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of ENPH. Kingswood Wealth Advisors LLC acquired a new stake in Enphase Energy during the 1st quarter worth about $272,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Enphase Energy during the 1st quarter valued at about $470,000. Bouvel Investment Partners LLC lifted its holdings in shares of Enphase Energy by 2.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after buying an additional 357 shares during the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Enphase Energy by 5.2% during the 1st quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock valued at $19,907,000 after buying an additional 8,190 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Enphase Energy during the 1st quarter valued at about $592,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.