Ormat Technologies, Inc. (NYSE:ORA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $129.80.

ORA has been the subject of a number of recent research reports. Oppenheimer increased their price objective on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. UBS Group restated a “buy” rating and issued a $148.00 price target on shares of Ormat Technologies in a research note on Wednesday, February 4th. Robert W. Baird set a $143.00 price target on Ormat Technologies in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. Finally, TD Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th.

Ormat Technologies Stock Up 1.2%

NYSE:ORA opened at $117.22 on Thursday. The stock has a 50-day simple moving average of $118.69 and a 200 day simple moving average of $107.99. Ormat Technologies has a 52-week low of $64.39 and a 52-week high of $132.58. The company has a market cap of $7.12 billion, a PE ratio of 53.77, a PEG ratio of 4.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.77.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, sell-side analysts expect that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock valued at $82,000 after buying an additional 86 shares during the period. Quadrant Capital Group LLC raised its stake in Ormat Technologies by 9.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after acquiring an additional 99 shares during the period. Jones Financial Companies Lllp lifted its holdings in Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares during the last quarter. State of Wyoming lifted its holdings in Ormat Technologies by 6.7% during the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after purchasing an additional 131 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Ormat Technologies by 9.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company’s stock worth $135,000 after purchasing an additional 144 shares during the period. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.