Williams Capital assumed coverage on shares of SunPower Corp. (NASDAQ:SPWR) in a research note published on Friday morning. The brokerage issued a hold rating and a $9.00 price objective on the stock.
Several other analysts have also commented on SPWR. Avondale Partners lowered SunPower Corp. from an outperform rating to a market perform rating in a report on Wednesday, August 10th. Janney Montgomery Scott lowered SunPower Corp. from a buy rating to a neutral rating in a report on Wednesday, August 10th. Deutsche Bank AG lowered SunPower Corp. from a buy rating to a hold rating and dropped their target price for the stock from $37.00 to $11.00 in a report on Wednesday, August 10th. Mizuho dropped their target price on SunPower Corp. from $57.00 to $46.00 and set a neutral rating on the stock in a report on Wednesday, August 10th. Finally, TheStreet lowered SunPower Corp. from a hold rating to a sell rating in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $24.94.
Shares of SunPower Corp. (NASDAQ:SPWR) opened at 8.84 on Friday. SunPower Corp. has a 1-year low of $7.37 and a 1-year high of $31.10. The company’s market cap is $1.22 billion. The firm has a 50-day moving average price of $9.25 and a 200-day moving average price of $15.23.
SunPower Corp. (NASDAQ:SPWR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $420.50 million for the quarter, compared to analyst estimates of $344.97 million. SunPower Corp. had a positive return on equity of 10.76% and a negative net margin of 21.75%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. On average, equities analysts expect that SunPower Corp. will post $0.32 EPS for the current year.
A number of large investors have recently bought and sold shares of SPWR. Janney Montgomery Scott LLC acquired a new stake in SunPower Corp. during the second quarter valued at about $462,000. Investec Asset Management LTD boosted its stake in SunPower Corp. by 2.4% in the first quarter. Investec Asset Management LTD now owns 266,451 shares of the company’s stock valued at $5,953,000 after buying an additional 6,238 shares during the period. Shinko Asset Management Co. Ltd. boosted its stake in SunPower Corp. by 64.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 20,593 shares of the company’s stock valued at $319,000 after buying an additional 8,080 shares during the period. Delta Lloyd NV boosted its stake in SunPower Corp. by 4.6% in the second quarter. Delta Lloyd NV now owns 1,103,495 shares of the company’s stock valued at $17,093,000 after buying an additional 48,865 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in SunPower Corp. by 125.0% in the first quarter. Teachers Advisors Inc. now owns 181,644 shares of the company’s stock valued at $4,058,000 after buying an additional 100,921 shares during the period. 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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