IDACORP (NYSE:IDA) Rating Lowered to “Sell” at Wall Street Zen

IDACORP (NYSE:IDA) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

IDA has been the topic of several other research reports. UBS Group dropped their price target on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Morgan Stanley restated an “overweight” rating and issued a $146.00 target price on shares of IDACORP in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $152.00 target price on shares of IDACORP in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Thursday. Finally, Barclays began coverage on shares of IDACORP in a report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.11.

IDACORP Stock Performance

Shares of IDA stock opened at $132.02 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $128.45 and a two-hundred day simple moving average of $127.86. IDACORP has a 12 month low of $107.64 and a 12 month high of $138.03. The firm has a market capitalization of $7.13 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. During the same period last year, the firm earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Analysts forecast that IDACORP will post 5.81 EPS for the current fiscal year.

Institutional Investors Weigh In On IDACORP

Large investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the second quarter worth $28,000. Caitong International Asset Management Co. Ltd lifted its position in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Quent Capital LLC bought a new position in shares of IDACORP during the 3rd quarter worth $30,000. Ameritas Advisory Services LLC purchased a new stake in IDACORP in the 2nd quarter worth about $31,000. Finally, Measured Wealth Private Client Group LLC bought a new position in IDACORP during the third quarter worth about $34,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.