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November 21, 2024
PI Global Investments
Infrastructure

Atlantica Sustainable Infrastructure (NASDAQ:AY) PT Raised to $23.00



Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) had its price target upped by research analysts at BMO Capital Markets from $20.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 0.22% from the stock’s current price.

AY has been the subject of a number of other research reports. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their target price for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Royal Bank of Canada lowered their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. StockNews.com raised Atlantica Sustainable Infrastructure from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Bank of America cut their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.13.

Get Our Latest Stock Report on AY

Atlantica Sustainable Infrastructure Stock Up 3.2 %

NASDAQ:AY opened at $22.95 on Friday. The business’s fifty day moving average price is $18.87 and its 200 day moving average price is $19.28. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.36 and a beta of 0.94. The company has a current ratio of 1.55, a quick ratio of 1.57 and a debt-to-equity ratio of 3.25. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $242.93 million for the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts forecast that Atlantica Sustainable Infrastructure will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AY. Invesco Ltd. boosted its holdings in Atlantica Sustainable Infrastructure by 1.2% during the third quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock valued at $55,915,000 after acquiring an additional 33,635 shares during the period. Neumeier Poma Investment Counsel LLC grew its holdings in Atlantica Sustainable Infrastructure by 1.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock valued at $25,294,000 after buying an additional 24,300 shares during the last quarter. Lazard Asset Management LLC bought a new position in Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $24,218,000. Advisors Capital Management LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 32.2% during the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock worth $18,916,000 after buying an additional 241,417 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at approximately $15,487,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

About Atlantica Sustainable Infrastructure

(Get Free Report)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

See Also

Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)



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