Ormat Technologies (ORA) Stock Rating Lowered by JPMorgan Chase

Ormat Technologies (NYSE:ORA) was downgraded by stock analysts at JPMorgan Chase from an “overweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. They currently have a $62.00 price objective on the energy company’s stock. JPMorgan Chase’s target price indicates a potential upside of 16.94% from the stock’s current price.

Several other research analysts have also issued reports on ORA. Cowen reiterated a “buy” rating and issued a $75.00 target price on shares of Ormat Technologies in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Saturday, January 27th. Roth Capital cut their target price on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, March 2nd. UBS initiated coverage on shares of Ormat Technologies in a research report on Friday, March 16th. They issued a “neutral” rating for the company. Finally, Oppenheimer reiterated a “market perform” rating on shares of Ormat Technologies in a research report on Friday, April 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Ormat Technologies has a consensus rating of “Hold” and a consensus target price of $67.71.

Ormat Technologies stock opened at $53.02 on Monday. The firm has a market capitalization of $2.84 billion, a PE ratio of 17.73, a PEG ratio of 2.33 and a beta of 1.36. Ormat Technologies has a fifty-two week low of $53.31 and a fifty-two week high of $54.27. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Friday, March 16th. The energy company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.72. The firm had revenue of $166.37 million for the quarter, compared to analysts’ expectations of $169.36 million. Ormat Technologies had a net margin of 24.00% and a return on equity of 11.11%. sell-side analysts anticipate that Ormat Technologies will post 2.19 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in Ormat Technologies by 25.0% during the fourth quarter. Bank of Montreal Can now owns 14,380 shares of the energy company’s stock valued at $920,000 after buying an additional 2,879 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Ormat Technologies by 11.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 200,404 shares of the energy company’s stock valued at $12,818,000 after buying an additional 19,869 shares during the period. Personal Capital Advisors Corp boosted its position in Ormat Technologies by 3.2% during the fourth quarter. Personal Capital Advisors Corp now owns 114,093 shares of the energy company’s stock valued at $7,297,000 after buying an additional 3,545 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its position in Ormat Technologies by 4.4% during the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 709,326 shares of the energy company’s stock valued at $45,368,000 after buying an additional 30,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ormat Technologies by 43.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock valued at $167,000 after buying an additional 791 shares during the period. Institutional investors own 70.81% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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