ValuEngine Downgrades SunPower (SPWR) to Sell

SunPower (NASDAQ:SPWR) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.

SPWR has been the topic of a number of other research reports. Robert W. Baird reissued a “hold” rating and set a $7.00 price objective on shares of SunPower in a report on Friday, September 1st. Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, August 7th. Morgan Stanley cut shares of SunPower from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $7.22 to $6.00 in a report on Wednesday, September 27th. Macquarie cut shares of SunPower from an “outperform” rating to a “neutral” rating in a report on Friday, September 8th. Finally, Bank of America cut their price objective on shares of SunPower from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.34.

Shares of SunPower (NASDAQ SPWR) opened at $7.87 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. SunPower has a 1-year low of $5.84 and a 1-year high of $11.70.

SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The company had revenue of $477.20 million for the quarter, compared to analysts’ expectations of $383.76 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was down 34.6% on a year-over-year basis. equities research analysts expect that SunPower will post -0.77 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Cortland Associates Inc. MO acquired a new position in shares of SunPower in the 3rd quarter valued at $109,000. CAPROCK Group Inc. increased its holdings in shares of SunPower by 1.1% in the 2nd quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 128 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of SunPower in the 3rd quarter valued at $112,000. HighTower Advisors LLC acquired a new position in shares of SunPower in the 2nd quarter valued at $124,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of SunPower in the 2nd quarter valued at $130,000. 25.63% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.com-unik.info/2017/12/03/valuengine-downgrades-sunpower-spwr-to-sell.html.

About SunPower

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

What are top analysts saying about SunPower Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SunPower Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit