Northland Securities Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by equities research analysts at Northland Securities from $110.00 to $90.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price would suggest a potential upside of 42.00% from the company’s current price.

Several other equities research analysts also recently weighed in on ENPH. William Blair assumed coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating for the company. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $154.00 to $81.00 in a research note on Friday, November 8th. Morgan Stanley dropped their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Bank of America reduced their price objective on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, Barclays dropped their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Price Performance

Shares of ENPH opened at $63.38 on Tuesday. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 144.05, a PEG ratio of 18.32 and a beta of 1.77. The firm’s fifty day simple moving average is $92.65 and its 200-day simple moving average is $106.79.

Enphase Energy (NASDAQ:ENPH) last issued 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). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities analysts forecast that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC purchased a new position in Enphase Energy during the first quarter worth approximately $12,624,000. Bessemer Group Inc. increased its holdings in shares of Enphase Energy by 198.3% during the 1st quarter. Bessemer Group Inc. now owns 1,897 shares of the semiconductor company’s stock worth $229,000 after buying an additional 1,261 shares during the last quarter. Stamos Capital Partners L.P. raised its position in shares of Enphase Energy by 185.5% in the 1st quarter. Stamos Capital Partners L.P. now owns 10,450 shares of the semiconductor company’s stock worth $1,264,000 after buying an additional 6,790 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy in the 1st quarter worth $59,128,000. Finally, Guardian Capital Advisors LP acquired a new position in Enphase Energy in the first quarter valued at $224,000. 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.