Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $71.00

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target dropped by investment analysts at Royal Bank of Canada from $85.00 to $71.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the semiconductor company's stock. Royal Bank of Canada's target price would suggest a potential upside of 7.11% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Enphase Energy from a "hold" rating to an "underperform" rating and reduced their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Oppenheimer decreased their target price on Enphase Energy from $134.00 to $101.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Northland Securities cut their price target on Enphase Energy from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday. Susquehanna reduced their price objective on Enphase Energy from $104.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Finally, Citigroup reduced their price target on shares of Enphase Energy from $114.00 to $99.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $101.13.

Enphase Energy Stock Up 4.3 %

Shares of NASDAQ:ENPH traded up $2.72 during midday trading on Friday, reaching $66.29. The company had a trading volume of 4,867,170 shares, compared to its average volume of 6,517,209. Enphase Energy has a one year low of $58.33 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The stock has a market capitalization of $8.96 billion, a P/E ratio of 150.66, a PEG ratio of 19.49 and a beta of 1.77. The stock's fifty day moving average price is $90.93 and its 200-day moving average price is $106.09.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business's revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Equities research analysts expect that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company's stock valued at $335,000 after purchasing an additional 93 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company's stock valued at $1,165,000 after buying an additional 100 shares in the last quarter. Green Alpha Advisors LLC grew its position in Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company's stock valued at $808,000 after acquiring an additional 102 shares during the period. Crossmark Global Holdings Inc. raised its stake in Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company's stock worth $557,000 after acquiring an additional 106 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in shares of Enphase Energy by 10.2% during the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company's stock valued at $128,000 after acquiring an additional 118 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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.