Investment Analysts’ Weekly Ratings Updates for SunPower (SPWR)

Several brokerages have updated their recommendations and price targets on shares of SunPower (NASDAQ: SPWR) in the last few weeks:

  • 4/19/2019 – SunPower was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/16/2019 – SunPower was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “buy” rating. They now have a $8.25 price target on the stock. According to Zacks, “SunPower is one of the most forward-integrated solar companies, having more than a decade-long experience in designing, manufacturing and supplying large-scale solar systems. Currently, the company aims to leverage its experience in commercial solar-plus-storage and adapt that to the residential market. Further, to tap the growing demand for solar products, SunPower has already undertaken several initiatives to strengthen its existing operations and scale up production volumes. However, SunPower is witnessing a significant reduction in demand in its Power Plant market on account of policy changes in China during 2018. The fall in demand increased the pressure on standard efficiency and commodity panel pricing, which is adversely impacting factory utilization rates and the suppliers’ margin. Its shares underperformed the industry in the past twelve months.”
  • 4/11/2019 – SunPower is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $7.50 price target on the stock.
  • 4/10/2019 – SunPower was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/10/2019 – SunPower was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/1/2019 – SunPower was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/21/2019 – SunPower was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

SPWR stock traded down $0.08 on Friday, reaching $7.43. 959,816 shares of the company’s stock were exchanged, compared to its average volume of 1,698,726. SunPower Co. has a twelve month low of $4.55 and a twelve month high of $10.00. The firm has a market capitalization of $1.05 billion, a PE ratio of -8.44 and a beta of 2.30. The company has a debt-to-equity ratio of 39.39, a current ratio of 1.52 and a quick ratio of 1.09.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The firm had revenue of $525.40 million for the quarter, compared to analyst estimates of $566.06 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. SunPower’s quarterly revenue was down 36.2% on a year-over-year basis. Equities research analysts expect that SunPower Co. will post -0.89 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of SPWR. Virtu Financial LLC purchased a new stake in SunPower during the third quarter worth $191,000. MetLife Investment Advisors LLC lifted its position in shares of SunPower by 55.4% in the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 17,431 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SunPower by 10.2% in the third quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after acquiring an additional 580,984 shares in the last quarter. Vanguard Group Inc lifted its position in shares of SunPower by 10.2% in the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after acquiring an additional 580,984 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of SunPower by 19.9% in the fourth quarter. North Star Investment Management Corp. now owns 36,200 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors own 27.59% of the company’s stock.

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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