SunPower Co. (NASDAQ:SPWR) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.16.
A number of analysts have commented on SPWR shares. Zacks Investment Research upgraded SunPower from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Wednesday, January 9th. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Credit Suisse Group cut SunPower from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Friday, February 15th. BidaskClub raised SunPower from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Finally, Bank of America cut SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 target price for the company. in a report on Friday, February 15th.
Several institutional investors and hedge funds have recently modified their holdings of SPWR. Northern Trust Corp raised its holdings in shares of SunPower by 5.6% in the 2nd quarter. Northern Trust Corp now owns 752,849 shares of the semiconductor company’s stock worth $5,774,000 after buying an additional 39,883 shares in the last quarter. Alps Advisors Inc. acquired a new stake in SunPower during the 3rd quarter valued at $190,000. Janney Montgomery Scott LLC acquired a new stake in SunPower during the 3rd quarter valued at $301,000. Rock Point Advisors LLC increased its holdings in SunPower by 46.7% during the 3rd quarter. Rock Point Advisors LLC now owns 596,940 shares of the semiconductor company’s stock valued at $4,358,000 after purchasing an additional 189,990 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in SunPower during the 3rd quarter valued at $191,000. 27.27% of the stock is owned by institutional investors and hedge funds.
Shares of SPWR stock traded up $0.04 during mid-day trading on Friday, reaching $6.55. The stock had a trading volume of 7,640 shares, compared to its average volume of 1,748,060. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39. SunPower has a one year low of $4.55 and a one year high of $10.00. The company has a market capitalization of $885.06 million, a P/E ratio of -7.43 and a beta of 2.24.
SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $566.06 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was down 36.2% on a year-over-year basis. Sell-side analysts predict that SunPower will post -1.11 earnings per share for the current fiscal year.
SunPower Company Profile
SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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