Enphase Energy (NASDAQ:ENPH) Given New $240.00 Price Target at BMO Capital Markets

Enphase Energy (NASDAQ:ENPHGet Rating) had its target price raised by BMO Capital Markets from $215.00 to $240.00 in a research note issued on Friday, The Fly reports. BMO Capital Markets’ price target points to a potential upside of 19.69% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer upped their target price on Enphase Energy from $290.00 to $307.00 in a research report on Wednesday, April 27th. KeyCorp upped their target price on Enphase Energy from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Stephens began coverage on Enphase Energy in a research report on Wednesday, April 13th. They issued an “overweight” rating and a $280.00 target price for the company. Cowen upped their target price on Enphase Energy from $227.00 to $240.00 in a research report on Wednesday, April 27th. Finally, Cowen increased their price objective on Enphase Energy from $227.00 to $240.00 in a research report on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $237.99.

Shares of NASDAQ ENPH opened at $200.51 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.22 and a debt-to-equity ratio of 3.62. The stock has a 50 day simple moving average of $178.56 and a 200-day simple moving average of $175.68. The company has a market cap of $27.07 billion, a PE ratio of 171.38 and a beta of 1.41. Enphase Energy has a 12-month low of $113.40 and a 12-month high of $282.46.

Enphase Energy (NASDAQ:ENPHGet Rating) last released its earnings results on Tuesday, April 26th. The semiconductor company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $441.29 million during the quarter, compared to the consensus estimate of $434.21 million. Enphase Energy had a return on equity of 45.30% and a net margin of 10.88%. During the same period in the prior year, the firm posted $0.48 earnings per share. Sell-side analysts forecast that Enphase Energy will post 2.34 earnings per share for the current fiscal year.

In other news, Director Benjamin John Kortlang sold 25,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $197.89, for a total value of $4,947,250.00. Following the transaction, the director now directly owns 249,289 shares of the company’s stock, valued at $49,331,800.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 37,500 shares of the company’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $200.01, for a total transaction of $7,500,375.00. The disclosure for this sale can be found here. Insiders sold 66,960 shares of company stock worth $13,143,608 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of ENPH. Elequin Capital LP bought a new stake in Enphase Energy in the first quarter worth $26,000. American National Bank boosted its holdings in Enphase Energy by 80.5% in the fourth quarter. American National Bank now owns 148 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in Enphase Energy during the fourth quarter valued at about $27,000. AlphaCentric Advisors LLC bought a new stake in Enphase Energy during the fourth quarter valued at about $27,000. Finally, KB Financial Partners LLC bought a new stake in Enphase Energy during the first quarter valued at about $28,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

About Enphase Energy (Get Rating)

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

Recommended Stories

The Fly logo

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Want More Great Investing Ideas?

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.