Enphase Energy, Inc. (NASDAQ:ENPH) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a consensus “Hold” rating on Enphase Energy, with 11 holds, nine buys and three sells among 23 analysts. The average 12-month price target is $43.11, although several firms recently lowered their targets.
• Enphase shares opened at $31.60, well below their 52-week high of $73.74. The stock’s latest quarter showed a slight earnings miss, while revenue declined 19.6% year over year to $291.85 million.
• Institutional investors own 72.12% of the company and several major funds increased their positions. However, an Enphase director recently sold 2,000 shares, reducing his holdings by 14.37%.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-three analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $43.11.

A number of equities research analysts have recently weighed in on ENPH shares. Citigroup cut their price target on Enphase Energy from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Tuesday, September 29th. Weiss Ratings reissued a "sell (d+)" rating on shares of Enphase Energy in a research note on Friday, September 18th. Oppenheimer restated an "outperform" rating and issued a $55.00 price objective on shares of Enphase Energy in a report on Monday, October 5th. Mizuho cut their price objective on shares of Enphase Energy from $54.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reduced their target price on shares of Enphase Energy from $54.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, September 21st.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $31.60 on Monday. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48. Enphase Energy has a 1 year low of $25.77 and a 1 year high of $73.74. The business has a fifty day simple moving average of $34.70 and a 200 day simple moving average of $41.24. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 31.60 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm had revenue of $291.85 million during the quarter, compared to analysts' expectations of $289.76 million. During the same quarter last year, the firm earned $0.69 EPS. The business's revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enphase Energy will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other news, Director Richard Mora sold 2,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the transaction, the director owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its holdings in Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after purchasing an additional 1,283,052 shares in the last quarter. First Trust Advisors LP raised its holdings in Enphase Energy by 42.4% during the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company's stock valued at $69,359,000 after buying an additional 546,460 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Enphase Energy by 37.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,361,157 shares of the semiconductor company's stock valued at $51,459,000 after buying an additional 373,212 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Enphase Energy by 79.2% in the first quarter. Principal Financial Group Inc. now owns 1,112,067 shares of the semiconductor company's stock worth $42,047,000 after buying an additional 491,488 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Enphase Energy in the second quarter worth about $43,921,000. Institutional investors own 72.12% of the company's stock.

About Enphase Energy

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.

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