TerraForm Power (TERP) Lowered to Sell at ValuEngine

TerraForm Power (NASDAQ:TERP) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

TERP has been the subject of several other reports. JPMorgan Chase upgraded shares of TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Thursday, May 3rd. BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Goldman Sachs lowered shares of TerraForm Power from a “neutral” rating to a “sell” rating in a report on Thursday, March 15th. Royal Bank of Canada assumed coverage on shares of TerraForm Power in a report on Wednesday, April 4th. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of TerraForm Power from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a report on Tuesday, May 8th. Four research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. TerraForm Power currently has a consensus rating of “Hold” and a consensus target price of $13.67.

NASDAQ:TERP traded down $0.10 during midday trading on Thursday, reaching $11.10. 688,674 shares of the stock traded hands, compared to its average volume of 481,224. TerraForm Power has a 12 month low of $11.12 and a 12 month high of $11.23. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $1.66 billion, a P/E ratio of -9.17 and a beta of 1.02.

TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Tuesday, May 1st. The solar energy provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.75. TerraForm Power had a negative net margin of 8.33% and a negative return on equity of 0.11%. The company had revenue of $127.55 million during the quarter, compared to analyst estimates of $145.30 million. analysts anticipate that TerraForm Power will post 0.2 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC raised its holdings in TerraForm Power by 314.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock worth $127,000 after purchasing an additional 8,952 shares in the last quarter. Teacher Retirement System of Texas bought a new position in TerraForm Power in the 4th quarter worth $151,000. Fox Run Management L.L.C. bought a new position in shares of TerraForm Power in the 4th quarter worth about $174,000. Shelton Capital Management bought a new position in shares of TerraForm Power in the 4th quarter worth about $179,000. Finally, Aperio Group LLC bought a new position in shares of TerraForm Power in the 1st quarter worth about $216,000. Institutional investors and hedge funds own 41.70% of the company’s stock.

TerraForm Power Company Profile

TerraForm Power, Inc, together with its subsidiaries, owns and operates clean power generation assets. As of December 31, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.4 megawatts.

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Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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