Ormat Technologies (NYSE:ORA) Given New $80.00 Price Target at Barclays

Ormat Technologies (NYSE:ORA) had its target price boosted by equities researchers at Barclays from $75.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the energy company’s stock. Barclays‘s price target suggests a potential upside of 6.95% from the stock’s current price.

A number of other equities analysts also recently issued reports on ORA. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group lifted their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.33.

Ormat Technologies Stock Performance

NYSE ORA opened at $74.80 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $71.11 and a 200 day simple moving average of $71.73. Ormat Technologies has a 12-month low of $61.58 and a 12-month high of $84.30. The company has a market cap of $4.53 billion, a P/E ratio of 38.16, a PEG ratio of 3.18 and a beta of 0.65.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million for the quarter, compared to analysts’ expectations of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts predict that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 over the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock worth $409,305,000 after acquiring an additional 274,540 shares during the period. Impax Asset Management Group plc increased its position in shares of Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares during the period. Dimensional Fund Advisors LP raised its stake in Ormat Technologies by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock worth $107,440,000 after buying an additional 93,418 shares in the last quarter. Geode Capital Management LLC boosted its position in Ormat Technologies by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after acquiring an additional 72,135 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its holdings in shares of Ormat Technologies by 2.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock worth $90,587,000 after acquiring an additional 33,719 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.