SunPower Corp. (NASDAQ:SPWR) Given Consensus Recommendation of “Hold” by Analysts
Shares of SunPower Corp. (NASDAQ:SPWR) have been assigned a consensus rating of “Hold” from the twenty-four ratings firms that are presently covering the company. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $25.75.
A number of analysts recently weighed in on SPWR shares. Wells Fargo & Co. started coverage on shares of SunPower Corp. in a research note on Wednesday, June 1st. They set a “market perform” rating on the stock. Robert W. Baird restated an “outperform” rating and set a $37.00 target price on shares of SunPower Corp. in a research note on Thursday, July 7th. Zacks Investment Research lowered shares of SunPower Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. TheStreet lowered shares of SunPower Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Finally, Guggenheim upgraded shares of SunPower Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.64 to $20.00 in a research note on Wednesday, July 27th.
Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in SunPower Corp. during the second quarter worth $102,000. Teacher Retirement System of Texas boosted its stake in SunPower Corp. by 28.6% in the second quarter. Teacher Retirement System of Texas now owns 8,613 shares of the company’s stock worth $133,000 after buying an additional 1,914 shares in the last quarter. BlackRock Inc. boosted its stake in SunPower Corp. by 101.8% in the first quarter. BlackRock Inc. now owns 6,559 shares of the company’s stock worth $146,000 after buying an additional 3,308 shares in the last quarter. Utah Retirement Systems boosted its stake in SunPower Corp. by 8.2% in the second quarter. Utah Retirement Systems now owns 10,500 shares of the company’s stock worth $163,000 after buying an additional 800 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in SunPower Corp. during the second quarter worth $163,000. 38.75% of the stock is owned by institutional investors and hedge funds.
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SunPower Corp. (NASDAQ:SPWR) traded up 3.19% during trading on Tuesday, reaching $8.08. 2,050,079 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.12 billion. The stock has a 50-day moving average of $10.80 and a 200-day moving average of $16.49. SunPower Corp. has a 52 week low of $7.37 and a 52 week high of $31.10.
SunPower Corp. (NASDAQ:SPWR) last released its earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. SunPower Corp. had a negative net margin of 21.75% and a positive return on equity of 10.76%. The firm had revenue of $420.50 million for the quarter, compared to analyst estimates of $344.97 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that SunPower Corp. will post $0.35 EPS for the current year.
About SunPower Corp.
SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements.
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