Analysts Set Altus Power, Inc. (NYSE:AMPS) PT at $6.00

Shares of Altus Power, Inc. (NYSE:AMPS) have earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.94.

A number of equities research analysts have commented on AMPS shares. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Altus Power in a report on Wednesday, October 16th. UBS Group dropped their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Maxim Group reduced their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. Citigroup dropped their target price on shares of Altus Power from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday. Finally, Morgan Stanley downgraded shares of Altus Power from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $8.00 to $4.00 in a report on Wednesday, August 21st.

Institutional Investors Weigh In On Altus Power

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of Altus Power in the 2nd quarter worth approximately $39,000. Iridian Asset Management LLC CT purchased a new position in Altus Power during the third quarter worth $40,000. Vaughan David Investments LLC IL bought a new position in Altus Power during the second quarter valued at $55,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altus Power in the second quarter valued at $68,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Altus Power in the 1st quarter worth about $88,000. 46.55% of the stock is owned by institutional investors.

Altus Power Stock Up 0.6 %

AMPS stock opened at $3.42 on Friday. The business’s 50-day moving average price is $3.21 and its 200-day moving average price is $3.74. The stock has a market cap of $549.50 million, a P/E ratio of -68.40 and a beta of 0.96. Altus Power has a twelve month low of $2.71 and a twelve month high of $7.28. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.18.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The business had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. On average, equities research analysts forecast that Altus Power will post 0.08 EPS for the current year.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.