SunPower Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:SPWR)
Shares of SunPower (NASDAQ:SPWR) have earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the stock, AmericanBankingNews.com reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $41.20.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of SunPower in a research note on Tuesday, August 5th. They now have a $36.00 price target on the stock. Separately, analysts at Cowen and Company reiterated an “outperform” rating on shares of SunPower in a research note on Friday, August 1st. Finally, analysts at Brean Capital upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $41.00 price target on the stock.
Shares of SunPower (NASDAQ:SPWR) opened at 38.05 on Monday. SunPower has a 52 week low of $21.30 and a 52 week high of $42.07. The stock has a 50-day moving average of $36.95 and a 200-day moving average of $34.48. The company has a market cap of $4.990 billion and a price-to-earnings ratio of 28.01.
SunPower (NASDAQ:SPWR) last announced its earnings results on Thursday, July 31st. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.02. The company had revenue of $621.10 million for the quarter, compared to the consensus estimate of $623.54 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts predict that SunPower will post $1.30 earnings per share for the current fiscal year.
In other SunPower news, SVP Eric Branderiz sold 2,072 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $36.85, for a total transaction of $76,353.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
SunPower Corporation operates in two business segments: the Utility and Power Plants (NASDAQ:SPWR) Segment and the Residential and Commercial (R&C) Segment.
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