SunPower (SPWR) Cut to Sell at ValuEngine

ValuEngine cut shares of SunPower (NASDAQ:SPWR) from a hold rating to a sell rating in a research report report published on Friday.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed a hold rating and issued a $7.00 price objective on shares of SunPower in a report on Friday, September 1st. Zacks Investment Research raised shares of SunPower from a hold rating to a buy rating and set a $10.00 price objective for the company in a report on Monday, August 7th. Morgan Stanley cut shares of SunPower from an equal weight rating to an underweight rating and cut their price objective for the company from $7.22 to $6.00 in a report on Wednesday, September 27th. Macquarie cut shares of SunPower from an outperform rating to a neutral rating in a report on Friday, September 8th. Finally, Bank of America cut their price objective on shares of SunPower from $12.00 to $10.00 and set a neutral rating for the company in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. SunPower has an average rating of Hold and a consensus target price of $9.34.

SunPower (SPWR) traded down $0.78 during midday trading on Friday, reaching $7.09. 7,171,100 shares of the company were exchanged, compared to its average volume of 3,117,755. SunPower has a 52 week low of $5.84 and a 52 week high of $11.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02.

SunPower (NASDAQ:SPWR) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.60. The company had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm’s quarterly revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. equities analysts predict that SunPower will post -0.77 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CAPROCK Group Inc. boosted its holdings in SunPower by 1.1% in the 2nd quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 128 shares during the last quarter. WFG Advisors LP boosted its holdings in SunPower by 7.6% in the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 1,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in SunPower by 8.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 1,730 shares during the last quarter. Van ECK Associates Corp boosted its holdings in SunPower by 2.3% in the 2nd quarter. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company’s stock valued at $1,066,000 after purchasing an additional 2,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in SunPower by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock valued at $12,991,000 after purchasing an additional 3,841 shares during the last quarter. 25.64% of the stock is owned by institutional investors.

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About SunPower

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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