Jefferies Financial Group Downgrades Enphase Energy (NASDAQ:ENPH) to Underperform

Jefferies Financial Group lowered shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to an underperform rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has $61.00 price target on the semiconductor company’s stock, down from their prior price target of $93.00.

A number of other equities analysts also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group reissued a “hold” rating and issued a $95.00 target price (down from $140.00) on shares of Enphase Energy in a report on Wednesday, October 23rd. Northland Securities decreased their price target on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Susquehanna cut their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $104.03.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $66.90 on Thursday. The company’s fifty day moving average is $100.48 and its two-hundred day moving average is $109.46. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 152.05, a P/E/G ratio of 8.40 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 52-week low of $65.66 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Equities research analysts forecast that Enphase Energy will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. raised its holdings in shares of Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after buying an additional 106 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in shares of Enphase Energy by 10.2% during the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.