SunPower (SPWR) Rating Increased to Outperform at Robert W. Baird
Robert W. Baird upgraded shares of SunPower (NASDAQ:SPWR) from a neutral rating to an outperform rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $10.00 price target on the semiconductor company’s stock, up from their previous price target of $7.00.
Other equities research analysts also recently issued research reports about the company. Cowen restated a buy rating and issued a $12.00 target price on shares of SunPower in a research report on Sunday, September 17th. ValuEngine upgraded SunPower from a sell rating to a hold rating in a research report on Saturday, November 4th. Zacks Investment Research downgraded SunPower from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Macquarie downgraded SunPower from an outperform rating to a neutral rating in a report on Friday, September 8th. Finally, Bank of America cut their price objective on SunPower from $12.00 to $10.00 and set a neutral rating on the stock in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $9.85.
SunPower (SPWR) opened at $8.99 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. SunPower has a 12 month low of $5.84 and a 12 month high of $11.70.
SunPower (NASDAQ:SPWR) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.60. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. The company had revenue of $477.20 million for the quarter, compared to the consensus estimate of $383.76 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was down 34.6% on a year-over-year basis. sell-side analysts predict that SunPower will post -0.77 earnings per share for the current year.
In other SunPower news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total transaction of $177,240.00. Following the sale, the director now owns 55,924 shares in the company, valued at approximately $419,430. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. WFG Advisors LP increased its holdings in SunPower by 7.6% during the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 1,100 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of SunPower by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock worth $216,000 after acquiring an additional 1,730 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of SunPower by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company’s stock worth $1,066,000 after acquiring an additional 2,599 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SunPower by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock worth $12,991,000 after acquiring an additional 3,841 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of SunPower by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 5,610 shares in the last quarter. Institutional investors own 25.64% of the company’s stock.
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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