Brokerages Set SunPower Co. (SPWR) Price Target at $8.72

Shares of SunPower Co. (NASDAQ:SPWR) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.72.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Robert W. Baird increased their price objective on shares of SunPower from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. set a $9.00 price objective on shares of SunPower and gave the stock a “hold” rating in a research report on Wednesday, September 19th. ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Bank of America reduced their price objective on shares of SunPower from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 9th.

Shares of NASDAQ SPWR traded down $0.01 during mid-day trading on Friday, hitting $6.26. 42,452 shares of the company’s stock traded hands, compared to its average volume of 2,042,424. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 39.39. The stock has a market capitalization of $871.33 million, a price-to-earnings ratio of -15.07 and a beta of 1.91. SunPower has a 1 year low of $5.76 and a 1 year high of $10.00.

SunPower (NASDAQ:SPWR) last announced its earnings results on Tuesday, October 30th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.11. The firm had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $478.88 million. SunPower had a negative net margin of 63.38% and a negative return on equity of 24.10%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities analysts predict that SunPower will post -1.04 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Guinness Atkinson Asset Management Inc raised its position in SunPower by 14.3% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 75,950 shares of the semiconductor company’s stock worth $555,000 after purchasing an additional 9,500 shares during the period. Commonwealth Equity Services LLC purchased a new stake in SunPower in the 1st quarter worth about $109,000. Guinness Asset Management Ltd raised its position in SunPower by 6.6% in the 3rd quarter. Guinness Asset Management Ltd now owns 240,077 shares of the semiconductor company’s stock worth $1,753,000 after purchasing an additional 14,900 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in SunPower in the 1st quarter worth about $139,000. Finally, Suntrust Banks Inc. purchased a new stake in SunPower in the 1st quarter worth about $145,000. 27.08% of the stock is currently owned by institutional investors.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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