Janney Montgomery Scott Downgrades Enphase Energy (NASDAQ:ENPH) to Neutral

Enphase Energy (NASDAQ:ENPH) was downgraded by equities research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $83.00 price target on the semiconductor company’s stock. Janney Montgomery Scott’s target price suggests a potential upside of 2.34% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $81.10 on Wednesday. Enphase Energy has a one year low of $73.49 and a one year high of $141.63. The company’s 50-day moving average is $109.09 and its 200 day moving average is $112.01. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Sell-side analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

A number of large investors have recently made changes to their positions in ENPH. Kingswood Wealth Advisors LLC purchased a new stake in shares of Enphase Energy during the first quarter valued at $272,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Enphase Energy during the first quarter valued at $470,000. Bouvel Investment Partners LLC boosted its stake in shares of Enphase Energy by 2.7% during the first quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after purchasing an additional 357 shares during the period. AMF Tjanstepension AB raised its holdings in shares of Enphase Energy by 5.2% in the first quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock valued at $19,907,000 after acquiring an additional 8,190 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in shares of Enphase Energy in the first quarter valued at about $592,000. 72.12% of the stock is owned by hedge funds and other 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.