Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $76.00 at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Canaccord Genuity Group from $95.00 to $76.00 in a research note issued to investors on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on ENPH. Barclays dropped their target price on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup dropped their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Jefferies Financial Group cut shares of Enphase Energy from a “hold” rating to an “underperform” rating and reduced their target price for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Oppenheimer lowered their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price objective on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $103.39.

Enphase Energy Stock Down 5.6 %

ENPH stock opened at $60.09 on Tuesday. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 136.57, a price-to-earnings-growth ratio of 7.15 and a beta of 1.77. The company has a 50-day moving average of $98.28 and a two-hundred day moving average of $108.79. Enphase Energy has a 52-week low of $59.37 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results 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). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. As a group, equities research analysts anticipate that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Enphase Energy in the third quarter worth about $1,273,000. Swedbank AB raised its position in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Impax Asset Management Group plc raised its position in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after purchasing an additional 31,008 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Enphase Energy during the 3rd quarter worth $6,387,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the last quarter. Institutional investors and hedge funds 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.