Atlantica Sustainable Infrastructure (NASDAQ:AY) Lifted to Buy at Bank of America

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Briefing.com reports. The firm presently has a $33.00 price objective on the utilities provider’s stock. Bank of America‘s target price indicates a potential upside of 14.23% from the stock’s current price.

AY has been the subject of several other research reports. BMO Capital Markets began coverage on Atlantica Sustainable Infrastructure in a research report on Wednesday, April 6th. They issued a “market perform” rating and a $37.00 price target for the company. Zacks Investment Research raised Atlantica Sustainable Infrastructure from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. StockNews.com began coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on Atlantica Sustainable Infrastructure from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. assumed coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, March 24th. They issued a “neutral” rating and a $40.00 price target for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $40.30.

Shares of AY stock opened at $28.89 on Thursday. Atlantica Sustainable Infrastructure has a 12 month low of $28.82 and a 12 month high of $41.32. The stock has a market cap of $3.25 billion, a PE ratio of -111.12 and a beta of 0.75. The company has a current ratio of 1.42, a quick ratio of 1.38 and a debt-to-equity ratio of 3.08. The company’s fifty day moving average price is $33.42 and its 200-day moving average price is $34.90.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last announced its earnings results on Monday, May 9th. The utilities provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Atlantica Sustainable Infrastructure had a negative net margin of 2.48% and a negative return on equity of 1.68%. During the same quarter in the prior year, the firm posted ($0.17) EPS. On average, sell-side analysts forecast that Atlantica Sustainable Infrastructure will post 0.56 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. AllSquare Wealth Management LLC boosted its stake in Atlantica Sustainable Infrastructure by 250.0% in the 4th quarter. AllSquare Wealth Management LLC now owns 700 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 500 shares during the period. Clearstead Advisors LLC boosted its stake in Atlantica Sustainable Infrastructure by 1,330.2% in the 4th quarter. Clearstead Advisors LLC now owns 758 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 705 shares during the period. Horan Securities Inc. bought a new position in Atlantica Sustainable Infrastructure in the 4th quarter worth approximately $31,000. Quent Capital LLC bought a new position in Atlantica Sustainable Infrastructure in the 4th quarter worth approximately $36,000. Finally, Concord Wealth Partners boosted its stake in Atlantica Sustainable Infrastructure by 244.2% in the 4th quarter. Concord Wealth Partners now owns 1,036 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 735 shares during the period. Institutional investors and hedge funds own 40.05% of the company’s stock.

About Atlantica Sustainable Infrastructure (Get Rating)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.

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Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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