BidaskClub Downgrades Atlantica Yield (AY) to Hold
Atlantica Yield (NASDAQ:AY) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other equities analysts have also recently weighed in on the company. Bank of America raised their price objective on Atlantica Yield from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $24.00 price objective on shares of Atlantica Yield in a research note on Tuesday, July 24th. Zacks Investment Research cut Atlantica Yield from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Raymond James assumed coverage on Atlantica Yield in a research note on Wednesday, June 20th. They set an “outperform” rating and a $26.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.20.
NASDAQ AY opened at $20.33 on Wednesday. Atlantica Yield has a 12-month low of $18.00 and a 12-month high of $25.99. The company has a debt-to-equity ratio of 2.99, a current ratio of 2.51 and a quick ratio of 2.47. The firm has a market capitalization of $2.05 billion, a P/E ratio of -112.94 and a beta of 0.97.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AY. Kayne Anderson Capital Advisors LP bought a new stake in shares of Atlantica Yield during the 1st quarter worth $11,810,000. BlackRock Inc. raised its stake in Atlantica Yield by 85.5% in the 1st quarter. BlackRock Inc. now owns 1,271,251 shares of the utilities provider’s stock valued at $24,892,000 after acquiring an additional 585,948 shares during the period. Melqart Asset Management UK Ltd raised its stake in Atlantica Yield by 20.2% in the 1st quarter. Melqart Asset Management UK Ltd now owns 2,020,794 shares of the utilities provider’s stock valued at $39,567,000 after acquiring an additional 339,251 shares during the period. Indaba Capital Management L.P. raised its stake in Atlantica Yield by 29.5% in the 1st quarter. Indaba Capital Management L.P. now owns 1,335,765 shares of the utilities provider’s stock valued at $26,154,000 after acquiring an additional 304,063 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Atlantica Yield by 25.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,245,740 shares of the utilities provider’s stock valued at $25,139,000 after acquiring an additional 253,170 shares during the period. Institutional investors own 49.48% of the company’s stock.
Atlantica Yield Company Profile
Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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