Ormat Technologies (ORA) Stock Rating Lowered by Zacks Investment Research

Ormat Technologies (NYSE:ORA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “ORMAT brings three decades of experience in the development, manufacture, and marketing of innovative power systems. ORMAT Energy Converter units, combined into modular power plants; use locally available heat sources, including geothermal energy (steam and hot water), recovered energy generation, solar energy, biomass, and low grade fuels. “

Several other research analysts have also weighed in on ORA. Roth Capital set a $70.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, November 13th. TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Oppenheimer restated a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Finally, Guggenheim started coverage on shares of Ormat Technologies in a research note on Monday. They set a “buy” rating and a $72.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $68.88.

Shares of Ormat Technologies (NYSE:ORA) opened at $65.60 on Wednesday. The company has a market cap of $3,320.00, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.94 and a beta of 1.23. Ormat Technologies has a 52-week low of $51.64 and a 52-week high of $66.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.72 and a quick ratio of 1.62.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.06). The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. equities analysts predict that Ormat Technologies will post 2.21 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ORA. GSA Capital Partners LLP boosted its holdings in Ormat Technologies by 29.0% in the 3rd quarter. GSA Capital Partners LLP now owns 24,762 shares of the energy company’s stock valued at $1,512,000 after purchasing an additional 5,571 shares during the period. Neuberger Berman Group LLC boosted its holdings in Ormat Technologies by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 580,576 shares of the energy company’s stock valued at $35,444,000 after purchasing an additional 7,576 shares during the period. California Public Employees Retirement System boosted its holdings in Ormat Technologies by 12.7% in the 3rd quarter. California Public Employees Retirement System now owns 74,862 shares of the energy company’s stock valued at $4,570,000 after purchasing an additional 8,462 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Ormat Technologies by 8.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 180,535 shares of the energy company’s stock valued at $11,022,000 after purchasing an additional 14,571 shares during the period. Finally, Impax Asset Management LTD boosted its holdings in Ormat Technologies by 21.4% in the 3rd quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock valued at $36,984,000 after purchasing an additional 106,654 shares during the period. 46.34% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This news story was reported by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.com-unik.info/2018/01/10/ormat-technologies-ora-stock-rating-lowered-by-zacks-investment-research.html.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Get a free copy of the Zacks research report on Ormat Technologies (ORA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

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