Atlantica Sustainable Infrastructure (NASDAQ:AY) Rating Lowered to Sell at StockNews.com

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

Several other research analysts also recently weighed in on the company. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. BMO Capital Markets lowered their price target on 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. Bank of America lowered their price target 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. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. Finally, Royal Bank of Canada lowered their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Stock Down 5.2 %

NASDAQ:AY opened at $18.23 on Friday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $28.54. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.97. The stock has a fifty day simple moving average of $18.27 and a 200-day simple moving average of $18.95. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.25. The firm had revenue of $241.31 million during the quarter, compared to the consensus estimate of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period in the previous year, the company posted $0.03 earnings per share. Analysts anticipate that Atlantica Sustainable Infrastructure will post 0.49 EPS for the current year.

Institutional Trading of Atlantica Sustainable Infrastructure

Large investors have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Atlantica Sustainable Infrastructure during the first quarter valued at about $42,000. GSA Capital Partners LLP acquired a new position in Atlantica Sustainable Infrastructure in the fourth quarter worth about $572,000. Legal & General Group Plc raised its position in Atlantica Sustainable Infrastructure by 33.5% in the fourth quarter. Legal & General Group Plc now owns 550,750 shares of the utilities provider’s stock worth $11,841,000 after purchasing an additional 138,097 shares in the last quarter. Barclays PLC raised its position in Atlantica Sustainable Infrastructure by 429.8% in the fourth quarter. Barclays PLC now owns 57,366 shares of the utilities provider’s stock worth $1,234,000 after purchasing an additional 46,538 shares in the last quarter. Finally, Vident Advisory LLC acquired a new position in Atlantica Sustainable Infrastructure in the fourth quarter worth about $215,000. 40.53% of the stock is owned by institutional investors and hedge funds.

About Atlantica Sustainable Infrastructure

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.