Analysts Set SunPower Co. (NASDAQ:SPWR) Target Price at $22.27

Shares of SunPower Co. (NASDAQ:SPWRGet Rating) have been assigned a consensus rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $22.27.

Several research analysts recently commented on SPWR shares. Raymond James lifted their target price on shares of SunPower from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 5th. Cowen lifted their price target on shares of SunPower from $18.00 to $20.00 in a report on Friday, April 1st. Robert W. Baird lifted their price target on shares of SunPower from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, April 1st. UBS Group upgraded shares of SunPower from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $17.00 in a report on Tuesday, February 15th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $21.00 price target on shares of SunPower in a report on Friday, April 1st.

Shares of NASDAQ SPWR opened at $20.40 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.11 and a debt-to-equity ratio of 1.09. SunPower has a 52 week low of $14.00 and a 52 week high of $34.61. The firm’s fifty day moving average is $19.31 and its 200 day moving average is $22.56. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -75.55 and a beta of 1.99.

SunPower (NASDAQ:SPWRGet Rating) last issued its earnings results on Wednesday, February 16th. The semiconductor company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). SunPower had a negative return on equity of 1.80% and a negative net margin of 2.82%. The firm had revenue of $384.53 million during the quarter, compared to analysts’ expectations of $369.77 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that SunPower will post 0.2 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise boosted its stake in SunPower by 106.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,067 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 1,067 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of SunPower during the 3rd quarter valued at about $61,000. Guinness Atkinson Asset Management Inc increased its position in shares of SunPower by 26.5% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 4,300 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 900 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of SunPower during the 4th quarter valued at about $122,000. Finally, Neo Ivy Capital Management bought a new position in shares of SunPower during the 4th quarter valued at approximately $122,000. Institutional investors own 34.82% of the company’s stock.

About SunPower (Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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