Enviva (NYSE:EVA) Price Target Raised to $77.00

Enviva (NYSE:EVAGet Rating) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $76.00 to $77.00 in a research note issued on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s target price suggests a potential downside of 13.27% from the stock’s previous close.

EVA has been the topic of several other reports. StockNews.com began coverage on Enviva in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research upgraded Enviva from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th. Citigroup began coverage on Enviva in a research report on Friday, February 4th. They set a “neutral” rating on the stock. Raymond James lowered Enviva from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 5th. Finally, Royal Bank of Canada lifted their price objective on Enviva from $78.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, March 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.00.

EVA opened at $88.78 on Tuesday. The stock’s 50 day simple moving average is $76.26 and its 200 day simple moving average is $71.27. The company has a debt-to-equity ratio of 4.55, a current ratio of 0.77 and a quick ratio of 0.55. Enviva has a 1 year low of $47.00 and a 1 year high of $89.42. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -121.61 and a beta of 1.07.

In other news, Director Ralph Alexander bought 1,614 shares of the stock in a transaction dated Thursday, March 3rd. The stock was bought at an average price of $77.28 per share, for a total transaction of $124,729.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Ubben sold 501,691 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $75.38, for a total value of $37,817,467.58. The disclosure for this sale can be found here. Company insiders own 13.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Capital Analysts LLC purchased a new position in Enviva during the third quarter valued at $40,000. Retirement Planning Co of New England Inc. bought a new stake in shares of Enviva in the 4th quarter worth $40,000. Atticus Wealth Management LLC increased its holdings in shares of Enviva by 88.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 848 shares of the energy company’s stock worth $46,000 after purchasing an additional 398 shares in the last quarter. Adirondack Trust Co. bought a new stake in shares of Enviva in the 3rd quarter worth $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Enviva by 14.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,739 shares of the energy company’s stock worth $148,000 after purchasing an additional 339 shares in the last quarter.

About Enviva (Get Rating)

Enviva Inc produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc was incorporated in 2013 and is headquartered in Bethesda, Maryland.

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