Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $71.00

Enphase Energy (NASDAQ:ENPH) had its price objective cut by investment analysts at Royal Bank of Canada from $85.00 to $71.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 7.11% from the company’s current price.

A number of other equities research analysts also recently issued reports on ENPH. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Evercore ISI decreased their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research report on Wednesday, October 23rd. William Blair assumed coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets cut their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $66.29 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 150.66, a P/E/G ratio of 19.49 and a beta of 1.77. The stock’s fifty day moving average price is $90.93 and its two-hundred day moving average price is $106.09. Enphase Energy has a one year low of $58.33 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the business posted $0.84 earnings per share. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. On average, equities analysts forecast that Enphase Energy will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after purchasing an additional 58,040 shares during the period. Swedbank AB acquired a new position in Enphase Energy in the first quarter valued at $424,130,000. Geode Capital Management LLC boosted its position in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after acquiring an additional 142,491 shares during the period. Finally, Electron Capital Partners LLC raised its position in shares of 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 worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

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.