IDACORP (IDA) Research Coverage Started at Bank of America

Analysts at Bank of America initiated coverage on shares of IDACORP (NYSE:IDA) in a research report issued to clients and investors on Tuesday, January 9th, Marketbeat.com reports. The brokerage set an “underperform” rating and a $85.00 price target on the coal producer’s stock. Bank of America’s target price points to a potential upside of 1.52% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of IDACORP from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, KeyCorp restated a “hold” rating on shares of IDACORP in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. IDACORP presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Shares of IDACORP (NYSE IDA) traded up $0.34 on Tuesday, reaching $83.73. 63,271 shares of the company’s stock were exchanged, compared to its average volume of 307,652. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $4,200.00, a PE ratio of 20.53, a P/E/G ratio of 4.92 and a beta of 0.42. IDACORP has a twelve month low of $78.37 and a twelve month high of $100.04.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.14. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. The business had revenue of $408.32 million for the quarter. During the same period last year, the company posted $1.65 EPS. research analysts forecast that IDACORP will post 4.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zions Bancorporation bought a new stake in IDACORP in the 3rd quarter worth about $104,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in IDACORP by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock worth $156,000 after purchasing an additional 224 shares in the last quarter. Advisor Group Inc. grew its position in IDACORP by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after purchasing an additional 111 shares in the last quarter. Riverhead Capital Management LLC grew its position in IDACORP by 77.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock worth $182,000 after purchasing an additional 930 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID bought a new stake in IDACORP in the 4th quarter worth about $204,000. Institutional investors own 75.32% of the company’s stock.

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About IDACORP

IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.

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