Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $99.00 at Citigroup

Enphase Energy (NASDAQ:ENPH) had its target price lowered by Citigroup from $114.00 to $99.00 in a research note published on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

Several other research firms have also issued reports on ENPH. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Canaccord Genuity Group reduced their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Susquehanna downgraded shares of Enphase Energy from a “positive” rating to a “neutral” rating and cut their price target for the company from $147.00 to $104.00 in a research report on Wednesday, October 16th. Craig Hallum boosted their price objective on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.26.

Enphase Energy Price Performance

Shares of ENPH stock opened at $83.83 on Tuesday. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 5.57 and a beta of 1.72. The stock has a 50-day moving average price of $108.44 and a 200 day moving average price of $111.79.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period last year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. Research analysts expect that Enphase Energy will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its holdings in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares during the last quarter. Chilton Capital Management LLC raised its position in Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. UMB Bank n.a. lifted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Blue Trust Inc. increased its stake in shares of Enphase Energy by 109.1% during the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.