Enphase Energy (NASDAQ:ENPH) Price Target Cut to $99.00 by Analysts at Citigroup

Enphase Energy (NASDAQ:ENPH) had its price target trimmed by Citigroup from $114.00 to $99.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on the company. Bank of America increased their price target on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $147.00 to $104.00 in a research report on Wednesday, October 16th. Canaccord Genuity Group reduced their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair initiated coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Barclays reduced their target price on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $121.51.

Enphase Energy Price Performance

Enphase Energy stock opened at $92.23 on Tuesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The stock’s 50 day moving average is $110.47 and its 200-day moving average is $112.47. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last issued 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 $0.78 by ($0.13). The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. Equities research analysts expect that Enphase Energy will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENPH. Manchester Capital Management LLC grew its holdings in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 203 shares during the period. Chilton Capital Management LLC grew its holdings in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares during the period. UMB Bank n.a. grew its holdings in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC acquired a new stake in Enphase Energy during the 3rd quarter worth about $34,000. Finally, Blue Trust Inc. grew its holdings in Enphase Energy by 109.1% during the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 228 shares during the period. 72.12% of the stock is owned by institutional investors.

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.