IDACORP (NYSE:IDA) Stock Rating Lowered by Wall Street Zen

IDACORP (NYSE:IDA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Mizuho set a $157.00 price objective on IDACORP in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. BTIG Research reissued a “buy” rating and issued a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Finally, Morgan Stanley dropped their target price on IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.86.

IDACORP Price Performance

Shares of IDA stock traded down $2.09 during trading hours on Friday, hitting $135.65. 370,630 shares of the company’s stock were exchanged, compared to its average volume of 478,852. The company has a market capitalization of $7.85 billion, a PE ratio of 22.46, a PEG ratio of 2.38 and a beta of 0.48. IDACORP has a 12-month low of $122.30 and a 12-month high of $154.91. The business’s 50 day simple moving average is $145.55 and its 200-day simple moving average is $143.50. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. During the same period in the previous year, the business posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities research analysts anticipate that IDACORP will post 6.38 earnings per share for the current year.

Institutional Investors Weigh In On IDACORP

Institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in shares of IDACORP in the fourth quarter valued at about $25,000. Osterweis Capital Management Inc. purchased a new stake in shares of IDACORP during the second quarter worth about $25,000. Western Wealth Management LLC purchased a new stake in shares of IDACORP during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in IDACORP during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.