Enphase Energy (NASDAQ:ENPH) Cut to Hold at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

ENPH has been the topic of a number of other reports. Jefferies Financial Group restated a “hold” rating and issued a $115.00 price target (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Canaccord Genuity Group lowered their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup lowered their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday. BMO Capital Markets lowered their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Finally, Barclays lowered their target price on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.56.

Enphase Energy Stock Performance

ENPH stock opened at $78.47 on Wednesday. The company has a market cap of $10.68 billion, a P/E ratio of 40.87, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock’s fifty day moving average price is $109.81 and its 200-day moving average price is $112.23.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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 firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. On average, equities analysts forecast that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the company. Benjamin Edwards Inc. increased its stake in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares during the last quarter. Hollencrest Capital Management increased its stake in Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares during the last quarter. Green Alpha Advisors LLC increased its stake in Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 102 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after acquiring an additional 106 shares during 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.