Enphase Energy (NASDAQ:ENPH) Downgraded by Janney Montgomery Scott to “Neutral”

Janney Montgomery Scott lowered shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $83.00 price target on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on ENPH. Glj Research initiated coverage on Enphase Energy in a report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Bank of America lifted their price objective on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. William Blair assumed coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Citigroup cut their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average target price of $111.56.

Enphase Energy Price Performance

Enphase Energy stock opened at $78.47 on Wednesday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 40.87, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The business has a 50-day moving average of $109.81 and a 200-day moving average of $112.23. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. On average, equities analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Swedbank AB acquired a new position in Enphase Energy in the 1st quarter valued at $424,130,000. Baillie Gifford & Co. grew its holdings in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC grew its holdings in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new position in Enphase Energy in the 2nd quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new position in Enphase Energy in the 1st quarter valued at $59,128,000. 72.12% of the stock is 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.