Enphase Energy, Inc. (NASDAQ:ENPH) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Of 23 brokerages covering Enphase Energy, 11 recommend holding, nine recommend buying, and three recommend selling. The average 12-month price target is $44.20.
• Several firms recently lowered price targets: Mizuho, Susquehanna, and Citigroup cut their targets to $45, $39, and $37, respectively, while maintaining neutral ratings.
• Recent performance remains mixed: Enphase reported quarterly revenue of $291.85 million, slightly above estimates, but earnings per share missed expectations and revenue fell 19.6% year over year. The stock opened at $33.01, well below its $73.74 one-year high.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.20.

A number of brokerages recently commented on ENPH. Oppenheimer reiterated an "outperform" rating on shares of Enphase Energy in a research note on Tuesday, September 8th. Mizuho cut their price objective on shares of Enphase Energy from $54.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Susquehanna reduced their price objective on Enphase Energy from $45.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Sanford C. Bernstein initiated coverage on Enphase Energy in a research report on Tuesday, June 16th. They issued a "market perform" rating and a $56.00 target price on the stock. Finally, Citigroup lowered their target price on Enphase Energy from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday.

Enphase Energy Trading Up 3.7%

ENPH stock opened at $33.01 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The company has a fifty day moving average price of $37.14 and a two-hundred day moving average price of $42.22. Enphase Energy has a one year low of $25.77 and a one year high of $73.74. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 33.01 and a beta of 1.65.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy's revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Equities analysts anticipate that Enphase Energy will post 0.69 EPS for the current year.

Insider Transactions at Enphase Energy

In related news, Director Richard Mora sold 1,500 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director directly owned 10,422 shares in the company, valued at $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Archer Investment Corp bought a new stake in shares of Enphase Energy in the second quarter valued at about $30,000. Burnham & Co LLC bought a new position in Enphase Energy during the second quarter worth about $34,000. Continuum Advisory LLC bought a new position in Enphase Energy during the second quarter worth about $42,000. Ascentis Independent Advisors acquired a new stake in Enphase Energy in the 1st quarter worth about $33,000. Finally, Allworth Financial LP acquired a new stake in Enphase Energy in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.

Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.

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