IDACORP (NYSE:IDA) Raised to “Sell” at Wall Street Zen

IDACORP (NYSE:IDA) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

IDA has been the subject of a number of other reports. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Barclays boosted their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $121.00 to $154.00 in a report on Tuesday, July 21st. BTIG Research reiterated a “buy” rating and set a $160.00 price target on shares of IDACORP in a report on Thursday. Finally, Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.14.

IDACORP Stock Performance

IDA opened at $148.80 on Friday. IDACORP has a twelve month low of $120.52 and a twelve month high of $154.91. The firm has a market capitalization of $8.25 billion, a PE ratio of 24.76, a PEG ratio of 2.96 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $145.27 and its 200 day moving average price is $141.94.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The company had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the prior year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts expect that IDACORP will post 6.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDACORP

Several large investors have recently made changes to their positions in IDA. Torren Management LLC acquired a new stake in IDACORP in the 4th quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new position in IDACORP during the first quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its stake in IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of IDACORP during the third quarter worth $34,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of IDACORP during the fourth quarter worth $35,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.