BMO Capital Markets Increases Atlantica Sustainable Infrastructure (NASDAQ:AY) Price Target to $23.00

Atlantica Sustainable Infrastructure (NASDAQ:AY) had its price objective hoisted by BMO Capital Markets from $20.00 to $23.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would indicate a potential downside of 0.95% from the company’s previous close.

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

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ AY traded up $0.97 during trading on Friday, reaching $23.22. 1,207,288 shares of the company traded hands, compared to its average volume of 1,129,354. The firm has a 50 day simple moving average of $18.76 and a 200-day simple moving average of $19.22. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $2.69 billion, a PE ratio of 54.76, a P/E/G ratio of 1.10 and a beta of 0.94. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $26.95.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $242.93 million for the quarter, compared to the consensus estimate of $240.87 million. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.53 earnings per share for the current year.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. acquired a new stake in Atlantica Sustainable Infrastructure during the fourth quarter worth approximately $27,000. Rational Advisors LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter worth $42,000. Clear Street Markets LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the third quarter worth $50,000. Finally, Clean Yield Group grew its stake in shares of Atlantica Sustainable Infrastructure by 71.4% in the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.