SunPower Corp. (SPWR) Given a $9.00 Price Target at Deutsche Bank AG
Other equities analysts have also recently issued reports about the company. Guggenheim raised SunPower Corp. from a neutral rating to a buy rating and boosted their target price for the company from $15.64 to $20.00 in a research note on Wednesday, July 27th. JPMorgan Chase & Co. set a $28.00 target price on SunPower Corp. and gave the company a buy rating in a research note on Friday, August 5th. Morgan Stanley set a $27.00 target price on SunPower Corp. and gave the company a buy rating in a research note on Thursday, August 11th. Barclays PLC cut SunPower Corp. from an overweight rating to an equal weight rating and reduced their price target for the stock from $23.00 to $12.00 in a research note on Saturday, August 13th. Finally, Williams Capital started coverage on SunPower Corp. in a research note on Friday, September 30th. They issued a hold rating and a $9.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $24.94.
Shares of SunPower Corp. (NASDAQ:SPWR) traded down 0.057% during trading on Wednesday, reaching $8.835. The company’s stock had a trading volume of 954,974 shares. SunPower Corp. has a one year low of $7.37 and a one year high of $31.10. The stock’s 50 day moving average is $9.25 and its 200 day moving average is $15.23. The firm’s market cap is $1.22 billion.
SunPower Corp. (NASDAQ:SPWR) last posted its earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $420.50 million for the quarter, compared to analysts’ expectations of $344.97 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that SunPower Corp. will post $0.32 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of SunPower Corp. during the second quarter worth approximately $102,000. Teacher Retirement System of Texas raised its stake in SunPower Corp. by 28.6% in the second quarter. Teacher Retirement System of Texas now owns 8,613 shares of the company’s stock valued at $133,000 after buying an additional 1,914 shares during the last quarter. BlackRock Inc. raised its stake in SunPower Corp. by 101.8% in the first quarter. BlackRock Inc. now owns 6,559 shares of the company’s stock valued at $146,000 after buying an additional 3,308 shares during the last quarter. Utah Retirement Systems raised its stake in SunPower Corp. by 8.2% in the second quarter. Utah Retirement Systems now owns 10,500 shares of the company’s stock valued at $163,000 after buying an additional 800 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in SunPower Corp. during the second quarter valued at about $163,000. 38.75% of the stock is owned by institutional investors.
About SunPower Corp.
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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