Altus Power, Inc. (NYSE:AMPS) Receives Average Rating of “Buy” from Analysts

Altus Power, Inc. (NYSE:AMPS) has been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.00.

A number of brokerages recently commented on AMPS. B. Riley upgraded shares of Altus Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Maxim Group lowered their price objective on Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley lowered Altus Power from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, August 21st. UBS Group lowered their price target on Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Roth Mkm cut their price objective on shares of Altus Power from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Altus Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Altus Power by 1.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 310,000 shares of the company’s stock valued at $2,117,000 after acquiring an additional 3,000 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Altus Power by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,257 shares of the company’s stock valued at $212,000 after purchasing an additional 3,116 shares during the period. Olympiad Research LP increased its stake in Altus Power by 8.2% in the fourth quarter. Olympiad Research LP now owns 62,704 shares of the company’s stock valued at $428,000 after purchasing an additional 4,726 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in shares of Altus Power by 17.0% in the first quarter. ANTIPODES PARTNERS Ltd now owns 35,198 shares of the company’s stock valued at $168,000 after buying an additional 5,116 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Altus Power by 24.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,771 shares of the company’s stock worth $125,000 after buying an additional 6,209 shares during the period. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Stock Performance

Shares of AMPS opened at $3.18 on Tuesday. Altus Power has a 1 year low of $2.80 and a 1 year high of $7.28. The stock has a market capitalization of $510.94 million, a PE ratio of -63.60 and a beta of 0.96. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.92.

Altus Power (NYSE:AMPS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The company had revenue of $52.46 million during the quarter, compared to the consensus estimate of $57.61 million. On average, analysts predict that Altus Power will post 0.08 earnings per share for the current fiscal year.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.