Ormat Technologies, Inc. (ORA) Receives Consensus Rating of “Buy” from Brokerages

Ormat Technologies, Inc. (NYSE:ORA) has received an average rating of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $68.17.

Several brokerages have recently commented on ORA. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Guggenheim began coverage on Ormat Technologies in a report on Monday, January 8th. They set a “buy” rating and a $72.00 price objective for the company. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Roth Capital set a $70.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Oppenheimer reissued a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th.

Shares of Ormat Technologies (NYSE ORA) traded up $0.45 on Friday, hitting $66.58. The stock had a trading volume of 140,353 shares, compared to its average volume of 178,308. Ormat Technologies has a 12-month low of $52.38 and a 12-month high of $66.94. The company has a market capitalization of $3,383.43, a PE ratio of 28.58, a PEG ratio of 1.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company had revenue of $157.20 million for the quarter, compared to the consensus estimate of $159.02 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. equities analysts expect that Ormat Technologies will post 2.21 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ORA. Renaissance Technologies LLC boosted its stake in Ormat Technologies by 17.8% in the second quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock worth $63,683,000 after buying an additional 164,100 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ormat Technologies by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock worth $197,538,000 after buying an additional 142,724 shares in the last quarter. AHL Partners LLP purchased a new stake in Ormat Technologies in the second quarter worth approximately $8,370,000. New Amsterdam Partners LLC NY purchased a new stake in Ormat Technologies in the third quarter worth approximately $6,677,000. Finally, Impax Asset Management LTD boosted its stake in Ormat Technologies by 21.4% in the third quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock worth $36,984,000 after buying an additional 106,654 shares in the last quarter. 46.34% of the stock is owned by institutional investors and hedge funds.

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About Ormat Technologies

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. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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