IDACORP (NYSE:IDA) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded IDACORP from “strong sell” to “sell”, while broader analyst sentiment remains more constructive with a Moderate Buy consensus and a consensus price target of $155.14.
• IDACORP recently reported Q1 earnings of $1.21 per share, beating estimates, though revenue of $403.41 million came in below expectations. The company also guided FY 2026 EPS at 6.25 to 6.45.
• Insider and institutional activity was mixed: VP James Bo D. Hanchey sold 1,500 shares, while hedge funds such as Goldman Sachs and Invesco increased their holdings. Institutional investors now own about 89.1% of the stock.

IDACORP (NYSE:IDA - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

IDA has been the subject of several other reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $156.00 price objective on shares of IDACORP in a research note on Wednesday. Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Weiss Ratings raised IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Barclays raised their price target on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, BTIG Research reiterated a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.14.

IDACORP Price Performance

IDACORP stock opened at $148.80 on Friday. The company has a market cap of $8.25 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. IDACORP has a one year low of $120.52 and a one year high of $154.91. The business has a fifty day moving average of $145.27 and a two-hundred day moving average of $141.83. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The firm had revenue of $403.41 million during the quarter, compared to analysts' expectations of $437.51 million. During the same quarter last year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, analysts predict that IDACORP will post 6.39 earnings per share for the current fiscal year.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president directly owned 2,138 shares of the company's stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On IDACORP

Several institutional investors and hedge funds have recently modified their holdings of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of IDACORP by 79.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company's stock worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. lifted its position in IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company's stock worth $39,805,000 after buying an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in IDACORP by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock worth $16,698,000 after buying an additional 10,855 shares during the last quarter. American Century Companies Inc. grew its holdings in IDACORP by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company's stock valued at $2,082,000 after buying an additional 2,016 shares during the period. Finally, Invesco Ltd. increased its stake in shares of IDACORP by 5.7% during the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company's stock valued at $28,538,000 after acquiring an additional 13,297 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company's service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power's generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.

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