Atlantica Yield (NASDAQ:AY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $22.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.23% from the stock’s previous close.
According to Zacks, “Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. It operates primarily in North America, South America and Europe. Atlantica Yield Plc, formerly known as Abengoa Yield plc, is based in Brentford, the United Kingdom. “
Several other brokerages have also issued reports on AY. BidaskClub upgraded shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Saturday, December 8th. Raymond James reiterated an “outperform” rating and issued a $27.50 price target on shares of Atlantica Yield in a research note on Monday, December 17th. Citigroup initiated coverage on shares of Atlantica Yield in a research report on Monday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, ValuEngine downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.50.
NASDAQ AY traded up $0.01 during trading on Friday, hitting $19.43. The company had a trading volume of 499,468 shares, compared to its average volume of 516,084. The company has a current ratio of 1.53, a quick ratio of 1.50 and a debt-to-equity ratio of 2.98. Atlantica Yield has a one year low of $17.50 and a one year high of $21.22. The firm has a market capitalization of $1.95 billion, a PE ratio of 46.26, a price-to-earnings-growth ratio of 1.02 and a beta of 0.63.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Atlantica Yield during the third quarter valued at approximately $8,188,000. JPMorgan Chase & Co. purchased a new position in shares of Atlantica Yield in the third quarter valued at $2,272,000. Macquarie Group Ltd. purchased a new position in shares of Atlantica Yield in the third quarter valued at $6,156,000. Morgan Stanley purchased a new position in shares of Atlantica Yield in the third quarter valued at $201,652,000. Finally, Diameter Capital Partners LP purchased a new position in shares of Atlantica Yield in the third quarter valued at $27,371,000. Institutional investors own 48.77% of the company’s stock.
About Atlantica Yield
Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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