TerraForm Power (NASDAQ:TERP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered TerraForm Power from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Deutsche Bank restated a “hold” rating and issued a $12.00 price objective on shares of TerraForm Power in a research note on Friday, September 28th. MED began coverage on TerraForm Power in a research note on Friday, September 28th. They issued a “hold” rating and a $12.00 price objective on the stock. They noted that the move was a valuation call. Finally, Goldman Sachs Group upgraded TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.44.

Shares of NASDAQ TERP opened at $11.27 on Thursday. TerraForm Power has a 52 week low of $9.90 and a 52 week high of $13.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.96. The company has a market cap of $2.35 billion, a P/E ratio of -9.31 and a beta of 0.87.

TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings results on Thursday, November 8th. The solar energy provider reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.11). TerraForm Power had a negative net margin of 12.29% and a negative return on equity of 0.48%. The company had revenue of $246.06 million for the quarter, compared to analyst estimates of $233.26 million. During the same period last year, the company posted ($0.31) earnings per share. The business’s revenue for the quarter was up 60.4% on a year-over-year basis. As a group, equities research analysts anticipate that TerraForm Power will post 0.2 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in TERP. Rehmann Capital Advisory Group increased its stake in shares of TerraForm Power by 1,054.9% during the third quarter. Rehmann Capital Advisory Group now owns 5,024 shares of the solar energy provider’s stock worth $435,000 after purchasing an additional 4,589 shares during the period. California Public Employees Retirement System increased its stake in shares of TerraForm Power by 8.3% during the second quarter. California Public Employees Retirement System now owns 67,204 shares of the solar energy provider’s stock worth $786,000 after purchasing an additional 5,130 shares during the period. Engineers Gate Manager LP increased its stake in shares of TerraForm Power by 7.9% during the third quarter. Engineers Gate Manager LP now owns 73,668 shares of the solar energy provider’s stock worth $851,000 after purchasing an additional 5,410 shares during the period. American Century Companies Inc. increased its stake in shares of TerraForm Power by 1.1% during the third quarter. American Century Companies Inc. now owns 489,059 shares of the solar energy provider’s stock worth $5,649,000 after purchasing an additional 5,478 shares during the period. Finally, United Services Automobile Association increased its stake in shares of TerraForm Power by 61.7% during the third quarter. United Services Automobile Association now owns 16,487 shares of the solar energy provider’s stock worth $190,000 after purchasing an additional 6,292 shares during the period. Hedge funds and other institutional investors own 62.56% of the company’s stock.

About TerraForm Power

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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