Atlantica Sustainable Infrastructure (NASDAQ:AY) Lifted to Hold at StockNews.com

Atlantica Sustainable Infrastructure (NASDAQ:AY) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also issued reports on AY. Bank of America lowered their price target on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. BMO Capital Markets lowered their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.75.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ AY traded up $0.59 during trading hours on Thursday, hitting $22.25. 2,222,786 shares of the company’s stock were exchanged, compared to its average volume of 1,126,564. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $26.95. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 1.10 and a beta of 0.94. The company’s 50-day moving average price is $18.76 and its 200-day moving average price is $19.22.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The business had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts expect that Atlantica Sustainable Infrastructure will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth $24,218,000. Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter worth $15,487,000. Westwood Holdings Group Inc. lifted its holdings in Atlantica Sustainable Infrastructure by 140.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock worth $9,642,000 after buying an additional 261,825 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 32.2% during the 3rd 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 in the last quarter. Finally, Tritonpoint Wealth LLC acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter worth $4,007,000. 40.53% of the stock is owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Company Profile

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.