Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of “Hold” from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned a consensus rating of “Hold” from the thirty-two ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $95.59.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Craig Hallum reduced their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer reduced their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $63.69 on Tuesday. The firm has a fifty day moving average of $69.22 and a two-hundred day moving average of $92.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 144.75, a PEG ratio of 7.87 and a beta of 1.68. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, equities research analysts predict that Enphase Energy will post 0.92 EPS for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at $1,273,000. Charles Schwab Investment Management Inc. raised its position in Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after purchasing an additional 16,234 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Enphase Energy during the third quarter valued at about $37,475,000. Mizuho Securities USA LLC grew its holdings in shares of Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the period. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.