ValuEngine upgraded shares of TerraForm Power (NASDAQ:TERP) from a sell rating to a hold rating in a research note released on Wednesday.

Other analysts also recently issued reports about the company. BidaskClub raised TerraForm Power from a sell rating to a hold rating in a report on Saturday, October 27th. Deutsche Bank reissued a hold rating and issued a $12.00 target price on shares of TerraForm Power in a report on Friday, September 28th. MED assumed coverage on TerraForm Power in a report on Friday, September 28th. They issued a hold rating and a $12.00 target price for the company. They noted that the move was a valuation call. BMO Capital Markets assumed coverage on TerraForm Power in a report on Wednesday, July 25th. They issued a market perform rating and a $11.50 target price for the company. Finally, Goldman Sachs Group raised TerraForm Power from a sell rating to a neutral rating and set a $11.00 target price for the company in a report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $12.44.

NASDAQ TERP traded down $0.77 during trading on Wednesday, reaching $11.07. 1,123,957 shares of the company’s stock were exchanged, compared to its average volume of 463,667. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -9.14 and a beta of 0.87. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.89 and a quick ratio of 0.89. TerraForm Power has a 1 year low of $9.90 and a 1 year high of $13.21.

TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings results on Thursday, November 8th. The solar energy provider reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.11). The business had revenue of $246.06 million for the quarter, compared to analysts’ expectations of $233.26 million. TerraForm Power had a negative return on equity of 0.29% and a negative net margin of 13.02%. The firm’s quarterly revenue was up 60.4% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. As a group, equities research analysts expect that TerraForm Power will post 0.43 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of TerraForm Power by 34.2% in the 3rd quarter. BlackRock Inc. now owns 8,124,943 shares of the solar energy provider’s stock valued at $93,844,000 after purchasing an additional 2,068,955 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of TerraForm Power by 15.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 318,765 shares of the solar energy provider’s stock valued at $3,681,000 after purchasing an additional 43,112 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of TerraForm Power in the 3rd quarter valued at about $897,000. Fort Washington Investment Advisors Inc. OH acquired a new position in TerraForm Power in the 3rd quarter valued at about $171,000. Finally, American Century Companies Inc. increased its position in TerraForm Power by 1.1% in the 3rd quarter. American Century Companies Inc. now owns 489,059 shares of the solar energy provider’s stock valued at $5,649,000 after acquiring an additional 5,478 shares during the period. 60.60% of the stock is owned by institutional investors and hedge funds.

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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