StockNews.com Downgrades Atlantica Sustainable Infrastructure (NASDAQ:AY) to Sell

Atlantica Sustainable Infrastructure (NASDAQ:AY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other equities research analysts also recently commented on the company. Bank of America reduced their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BMO Capital Markets dropped their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. Royal Bank of Canada dropped their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $20.41 on Tuesday. The stock has a 50 day moving average price of $18.24 and a 200 day moving average price of $18.98. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $28.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million during the quarter, compared to analysts’ expectations of $243.81 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts predict that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AY. Tritonpoint Wealth LLC acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter worth $4,007,000. Barclays PLC boosted its position in Atlantica Sustainable Infrastructure by 36.6% during the 3rd quarter. Barclays PLC now owns 10,828 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 2,904 shares during the period. Graham Capital Management L.P. acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth $399,000. Invesco Ltd. boosted its position in Atlantica Sustainable Infrastructure by 1.2% during the 3rd quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock worth $55,915,000 after acquiring an additional 33,635 shares during the period. Finally, Rock Point Advisors LLC acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth $1,492,000. 40.53% of the stock is currently owned by institutional investors.

Atlantica Sustainable Infrastructure Company Profile

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.