IDACORP (NYSE:IDA) Lowered to “Sell” Rating by Wall Street Zen

IDACORP (NYSE:IDA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

IDA has been the subject of several other reports. UBS Group lowered their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Barclays started coverage on shares of IDACORP in a report on Wednesday, January 14th. They set an “overweight” rating and a $144.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Thursday. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Mizuho upped their target price on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and an average price target of $138.11.

IDACORP Stock Down 1.3%

IDACORP stock opened at $132.02 on Monday. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.57 and a beta of 0.61. The company’s 50 day simple moving average is $128.45 and its 200 day simple moving average is $127.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. IDACORP has a fifty-two week low of $107.64 and a fifty-two week high of $138.03.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The company had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. During the same period last year, the business posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, sell-side analysts anticipate that IDACORP will post 5.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP during the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares during the period. Quent Capital LLC acquired a new position in shares of IDACORP during the third quarter valued at about $30,000. Ameritas Advisory Services LLC bought a new position in shares of IDACORP during the 2nd quarter worth about $31,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of IDACORP in the 3rd quarter valued at about $34,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.