IDACORP (NYSE:IDA) Stock Rating Upgraded by StockNews.com

IDACORP (NYSE:IDA) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report issued on Friday.

Several other equities analysts have also weighed in on the stock. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Mizuho reduced their price objective on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Morgan Stanley raised their price objective on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Wells Fargo & Company reduced their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Finally, Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, IDACORP has a consensus rating of “Hold” and a consensus target price of $93.80.

IDACORP Stock Performance

Shares of IDA opened at $94.60 on Friday. The firm has a 50-day moving average price of $90.86 and a 200 day moving average price of $94.02. The firm has a market capitalization of $4.80 billion, a PE ratio of 18.40 and a beta of 0.56. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.91.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, sell-side analysts anticipate that IDACORP will post 5.32 earnings per share for the current fiscal year.

Institutional Trading of IDACORP

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. purchased a new stake in shares of IDACORP in the first quarter worth approximately $41,000. Headlands Technologies LLC bought a new position in IDACORP during the third quarter valued at approximately $40,000. Northwest Financial Advisors bought a new position in IDACORP during the fourth quarter valued at approximately $52,000. Kapitalo Investimentos Ltda bought a new position in IDACORP during the fourth quarter valued at approximately $54,000. Finally, Spirit of America Management Corp NY bought a new position in IDACORP during the third quarter valued at approximately $56,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.