Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by BNP Paribas

Enphase Energy (NASDAQ:ENPH) was downgraded by BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $88.00 target price on the semiconductor company’s stock. BNP Paribas’ target price points to a potential upside of 22.92% from the stock’s previous close.

Several other research firms also recently issued reports on ENPH. Oppenheimer reduced their price target 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. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research note on Wednesday, October 23rd. Citigroup dropped their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Northland Securities dropped their price objective on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their price objective on Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $104.03.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $71.59 on Friday. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 162.70, a price-to-earnings-growth ratio of 9.82 and a beta of 1.77. Enphase Energy has a 52 week low of $71.38 and a 52 week high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $101.56 and a 200-day moving average of $109.78.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC grew its holdings in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy during the third quarter worth about $34,000. Quest Partners LLC grew its holdings in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.