Deutsche Bank AG Analysts Give SunPower Corp. (SPWR) a $9.00 Price Target
A number of other research firms also recently weighed in on SPWR. Morgan Stanley restated an overweight rating and set a $27.00 price target (down previously from $39.00) on shares of SunPower Corp. in a research report on Wednesday, August 3rd. JMP Securities initiated coverage on SunPower Corp. in a research report on Thursday, September 8th. They set an underperform rating and a $6.00 price target on the stock. Oppenheimer Holdings Inc. restated a market perform rating and set a $39.00 price target on shares of SunPower Corp. in a research report on Wednesday, August 10th. Credit Suisse Group AG downgraded SunPower Corp. from an outperform rating to a neutral rating and lowered their price target for the company from $32.00 to $12.00 in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. downgraded SunPower Corp. from an overweight rating to a neutral rating and lowered their price target for the company from $28.00 to $17.00 in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $24.94.
Shares of SunPower Corp. (NASDAQ:SPWR) opened at 8.36 on Wednesday. SunPower Corp. has a 12 month low of $7.37 and a 12 month high of $31.10. The company’s market cap is $1.15 billion. The company’s 50 day moving average price is $9.15 and its 200 day moving average price is $15.08.
SunPower Corp. (NASDAQ:SPWR) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. SunPower Corp. had a positive return on equity of 10.76% and a negative net margin of 21.75%. The business had revenue of $420.50 million for the quarter, compared to the consensus estimate of $344.97 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts expect that SunPower Corp. will post $0.32 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of 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. Tower Research Capital LLC TRC bought a new stake in shares of SunPower Corp. during the second quarter worth approximately $102,000. Teacher Retirement System of Texas boosted its stake in shares of 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. Edmond DE Rothschild Holding S.A. boosted its stake in shares of SunPower Corp. by 3.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 8,904 shares of the company’s stock worth $199,000 after buying an additional 285 shares in the last quarter. Finally, Seven Eight Capital LLC bought a new stake in shares of SunPower Corp. during the first quarter worth approximately $207,000. 38.75% of the stock is currently owned by institutional investors and hedge funds.
SunPower Corp. Company Profile
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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