Canadian Imperial Bank of Commerce Lowers XPLR Infrastructure (NYSE:XIFR) Price Target to $11.00

Key Points

• Canadian Imperial Bank of Commerce cut its price target on XPLR Infrastructure from $11.50 to $11.00 and kept a "neutral" rating, implying about an 8.5% upside from the stock's current price.
• The analyst picture is mixed with a MarketBeat consensus of "Reduce" and an average price target of $12.40 (2 Buy, 3 Hold, 3 Sell ratings reported).
• XIFR is trading around $10.14; it posted a quarterly EPS beat ($0.30 vs. -$0.57 est.) on $249M revenue, although revenue fell 15.3% year-over-year and the company still has a negative net margin.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) had its price target lowered by investment analysts at Canadian Imperial Bank of Commerce from $11.50 to $11.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the solar energy provider's stock. Canadian Imperial Bank of Commerce's price target points to a potential upside of 8.53% from the stock's current price.

Other analysts have also recently issued reports about the company. Evercore reissued a "hold" rating and issued a $10.80 price target on shares of XPLR Infrastructure in a report on Thursday, March 5th. Barclays raised their price target on XPLR Infrastructure from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Thursday, February 12th. Morgan Stanley raised their price target on XPLR Infrastructure from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, April 7th. Royal Bank Of Canada started coverage on XPLR Infrastructure in a report on Tuesday, January 6th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of XPLR Infrastructure in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $12.40.

XPLR Infrastructure Stock Performance

Shares of XIFR stock traded down $0.06 during midday trading on Monday, hitting $10.14. The company had a trading volume of 197,791 shares, compared to its average volume of 1,211,325. The company's 50 day simple moving average is $10.42 and its 200 day simple moving average is $10.01. XPLR Infrastructure has a 52-week low of $7.92 and a 52-week high of $11.43. The stock has a market cap of $955.68 million, a price-to-earnings ratio of -32.69 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.91 and a quick ratio of 0.84.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) last announced its earnings results on Tuesday, February 10th. The solar energy provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.87. The company had revenue of $249.00 million for the quarter. XPLR Infrastructure had a positive return on equity of 1.54% and a negative net margin of 2.27%.The company's quarterly revenue was down 15.3% on a year-over-year basis. Research analysts anticipate that XPLR Infrastructure will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. US Bancorp DE purchased a new position in shares of XPLR Infrastructure during the 3rd quarter worth $28,000. Huntington National Bank lifted its stake in shares of XPLR Infrastructure by 715.6% during the 4th quarter. Huntington National Bank now owns 3,075 shares of the solar energy provider's stock worth $31,000 after purchasing an additional 2,698 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of XPLR Infrastructure during the 3rd quarter worth $55,000. JPMorgan Chase & Co. purchased a new position in shares of XPLR Infrastructure during the 2nd quarter worth $55,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in shares of XPLR Infrastructure during the 2nd quarter worth $77,000. Hedge funds and other institutional investors own 66.01% of the company's stock.

About XPLR Infrastructure

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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