Atlantica Yield (AY) Rating Increased to Sell at BidaskClub

Atlantica Yield (NASDAQ:AY) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other research firms also recently issued reports on AY. Zacks Investment Research upgraded shares of Atlantica Yield from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Thursday, October 12th. Bank of America reiterated a “buy” rating and set a $24.00 price objective on shares of Atlantica Yield in a research note on Tuesday, October 24th. Royal Bank of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Atlantica Yield in a research note on Monday, October 30th. Finally, Guggenheim set a $27.00 price objective on shares of Atlantica Yield and gave the stock a “buy” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Atlantica Yield presently has a consensus rating of “Hold” and a consensus target price of $24.60.

Shares of Atlantica Yield (NASDAQ:AY) traded up $0.08 during mid-day trading on Wednesday, reaching $21.08. 249,237 shares of the company traded hands, compared to its average volume of 522,721. Atlantica Yield has a 1 year low of $19.30 and a 1 year high of $25.99. The company has a quick ratio of 2.20, a current ratio of 2.23 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $2,102.56, a price-to-earnings ratio of 78.07, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15.

Atlantica Yield (NASDAQ:AY) last issued its quarterly earnings results on Monday, November 13th. The utilities provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). Atlantica Yield had a return on equity of 1.41% and a net margin of 2.85%. The company had revenue of $291.96 million for the quarter. sell-side analysts anticipate that Atlantica Yield will post 0.24 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP boosted its stake in shares of Atlantica Yield by 532.0% in the third quarter. Quantbot Technologies LP now owns 6,914 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 5,820 shares during the period. Legal & General Group Plc boosted its stake in shares of Atlantica Yield by 73.2% in the third quarter. Legal & General Group Plc now owns 8,994 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 3,800 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Atlantica Yield in the fourth quarter valued at $204,000. Stevens Capital Management LP purchased a new position in shares of Atlantica Yield in the third quarter valued at $214,000. Finally, Pitcairn Co. purchased a new position in shares of Atlantica Yield in the third quarter valued at $247,000. Institutional investors and hedge funds own 50.94% of the company’s stock.

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Atlantica Yield Company Profile

Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).

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