Raymond James Raises Atlantica Yield (AY) Price Target to $27.50

Atlantica Yield (NASDAQ:AY) had its price objective hoisted by Raymond James from $26.00 to $27.50 in a research report released on Tuesday morning. Raymond James currently has an outperform rating on the utilities provider’s stock.

A number of other analysts have also recently weighed in on AY. BidaskClub cut shares of Atlantica Yield from a buy rating to a hold rating in a report on Tuesday, July 17th. Zacks Investment Research cut shares of Atlantica Yield from a strong-buy rating to a hold rating in a research note on Tuesday, July 17th. Royal Bank of Canada reissued a buy rating and set a $24.00 target price on shares of Atlantica Yield in a research note on Tuesday, July 24th. Bank of America raised their target price on shares of Atlantica Yield from $25.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, August 7th. Finally, Deutsche Bank initiated coverage on shares of Atlantica Yield in a research note on Friday, September 28th. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $25.50.

Shares of AY stock traded up $0.07 during trading hours on Tuesday, reaching $20.90. The stock had a trading volume of 4,389 shares, compared to its average volume of 388,320. The company has a quick ratio of 2.47, a current ratio of 2.61 and a debt-to-equity ratio of 2.92. Atlantica Yield has a twelve month low of $18.00 and a twelve month high of $25.99. The stock has a market cap of $2.02 billion, a PE ratio of -115.72 and a beta of 0.91.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.08. Atlantica Yield had a negative net margin of 3.17% and a positive return on equity of 3.21%. The business had revenue of $323.81 million for the quarter, compared to analysts’ expectations of $297.91 million. Equities analysts forecast that Atlantica Yield will post 0.8 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Perella Weinberg Partners Capital Management LP acquired a new position in Atlantica Yield during the 3rd quarter valued at about $5,089,000. BlackRock Inc. boosted its position in shares of Atlantica Yield by 85.5% during the 1st quarter. BlackRock Inc. now owns 1,271,251 shares of the utilities provider’s stock valued at $24,892,000 after purchasing an additional 585,948 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Atlantica Yield by 25.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,245,740 shares of the utilities provider’s stock valued at $25,139,000 after purchasing an additional 253,170 shares in the last quarter. UBS Group AG boosted its position in shares of Atlantica Yield by 5.8% during the 1st quarter. UBS Group AG now owns 172,760 shares of the utilities provider’s stock valued at $3,382,000 after purchasing an additional 9,491 shares in the last quarter. Finally, C WorldWide Group Holding A S bought a new position in shares of Atlantica Yield during the 3rd quarter valued at about $1,774,000. 49.27% of the stock is currently owned by hedge funds and other institutional investors.

About Atlantica Yield

Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.

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Analyst Recommendations for Atlantica Yield (NASDAQ:AY)

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