ValuEngine Upgrades SunPower Corporation (SPWR) to Hold

SunPower Corporation (NASDAQ:SPWR) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. BidaskClub lowered SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $13.00 price objective (up previously from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. Cowen and Company set a $12.00 price objective on SunPower Corporation and gave the company a “buy” rating in a report on Friday, August 11th. Zacks Investment Research lowered SunPower Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Vetr lowered SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price objective on the stock. in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.29.

SunPower Corporation (SPWR) opened at $8.64 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.06 and a current ratio of 1.45.

SunPower Corporation (NASDAQ:SPWR) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.60. The business had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. SunPower Corporation had a negative return on equity of 20.08% and a negative net margin of 24.91%. The firm’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. analysts forecast that SunPower Corporation will post -1.41 EPS for the current year.

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Several large investors have recently made changes to their positions in the company. Cortland Associates Inc. MO acquired a new stake in shares of SunPower Corporation during the 3rd quarter worth approximately $109,000. Strs Ohio acquired a new stake in shares of SunPower Corporation during the 3rd quarter worth approximately $394,000. WFG Advisors LP grew its holdings in shares of SunPower Corporation by 7.6% during the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 1,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of SunPower Corporation by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock worth $216,000 after purchasing an additional 1,730 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of SunPower Corporation by 1,204.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,609 shares of the semiconductor company’s stock worth $463,000 after purchasing an additional 45,805 shares in the last quarter. 28.41% of the stock is currently owned by institutional investors.

SunPower Corporation Company Profile

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

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