Atlantica Sustainable Infrastructure (NASDAQ:AY) Upgraded to Buy by UBS Group

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Briefing.com reports. The brokerage currently has a $25.00 target price on the utilities provider’s stock, up from their prior target price of $19.00. UBS Group’s price target indicates a potential upside of 43.35% from the company’s previous close.

A number of other brokerages have also issued reports on AY. Royal Bank of Canada cut their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. BMO Capital Markets dropped their price objective on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.89.

View Our Latest Analysis on AY

Atlantica Sustainable Infrastructure Stock Up 0.9 %

AY stock opened at $17.44 on Friday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $29.81. The stock has a market capitalization of $2.02 billion, a P/E ratio of 41.52 and a beta of 0.97. The business has a fifty day moving average price of $18.61 and a 200-day moving average price of $19.36.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last announced its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. During the same period in the previous year, the business posted $0.03 earnings per share. Equities analysts forecast that Atlantica Sustainable Infrastructure will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its position in Atlantica Sustainable Infrastructure by 39.4% in the first quarter. Advisor Group Holdings Inc. now owns 13,014 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 3,676 shares during the period. Citigroup Inc. boosted its holdings in Atlantica Sustainable Infrastructure by 37.4% during the 1st quarter. Citigroup Inc. now owns 111,622 shares of the utilities provider’s stock valued at $3,915,000 after acquiring an additional 30,406 shares during the period. PNC Financial Services Group Inc. grew its position in Atlantica Sustainable Infrastructure by 122.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 550 shares in the last quarter. Bank of Montreal Can increased its stake in Atlantica Sustainable Infrastructure by 50.1% during the first quarter. Bank of Montreal Can now owns 53,967 shares of the utilities provider’s stock worth $1,881,000 after purchasing an additional 18,014 shares during the period. Finally, BlackRock Inc. increased its stake in Atlantica Sustainable Infrastructure by 5.3% during the first quarter. BlackRock Inc. now owns 2,097,975 shares of the utilities provider’s stock worth $73,575,000 after purchasing an additional 105,043 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Company Profile

(Get Free Report)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

Further Reading

Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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