Analysts’ Weekly Ratings Changes for Ormat Technologies (ORA)
Several analysts have recently updated their ratings and price targets for Ormat Technologies (NYSE: ORA):
- 3/6/2017 – Ormat Technologies had its price target raised by analysts at Barclays PLC from $43.00 to $54.00. They now have an “underweight” rating on the stock.
- 3/6/2017 – Ormat Technologies was given a new $66.00 price target on by analysts at Roth Capital. They now have a “buy” rating on the stock.
- 3/4/2017 – Ormat Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $67.00 price target on the stock. 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. “
- 3/1/2017 – Ormat Technologies had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $65.00 price target on the stock, up previously from $56.00.
- 2/15/2017 – Ormat Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
Ormat Technologies, Inc. (NYSE:ORA) opened at 57.78 on Tuesday. Ormat Technologies, Inc. has a 1-year low of $39.99 and a 1-year high of $59.63. The firm has a 50-day moving average price of $56.17 and a 200 day moving average price of $51.12. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 30.90 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. This is a positive change from Ormat Technologies’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, February 16th. Ormat Technologies’s dividend payout ratio is 15.73%.
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In other Ormat Technologies news, VP Erez Klein sold 5,150 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $52.95, for a total transaction of $272,692.50. Following the completion of the transaction, the vice president now directly owns 5,150 shares of the company’s stock, valued at $272,692.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.97% of the stock is currently owned by corporate insiders.
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. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
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