StockNews.com Lowers Atlantica Sustainable Infrastructure (NASDAQ:AY) to Sell

Atlantica Sustainable Infrastructure (NASDAQ:AY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other research analysts have also recently 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 report on Monday, March 4th. BMO Capital Markets lowered their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. Bank of America decreased their price target 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. Finally, UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has a consensus rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $18.51 on Tuesday. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $28.25. The stock has a market cap of $2.15 billion, a PE ratio of 44.07, a P/E/G ratio of 1.01 and a beta of 0.97. The firm has a 50-day simple moving average of $18.18 and a two-hundred day simple moving average of $18.95. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. During the same period in the prior year, the firm earned $0.03 EPS. As a group, analysts forecast that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds have recently added to or reduced their stakes in the business. Insight Folios Inc boosted its stake in shares of Atlantica Sustainable Infrastructure by 2.5% during the 4th quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock worth $494,000 after purchasing an additional 566 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 698 shares during the last quarter. PFG Investments LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 3.6% during the 3rd quarter. PFG Investments LLC now owns 21,925 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 771 shares during the last quarter. Sargent Investment Group LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 2.9% during the 4th quarter. Sargent Investment Group LLC now owns 42,905 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Atlantica Sustainable Infrastructure by 9.5% during the 4th quarter. Handelsbanken Fonder AB now owns 17,676 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 1,537 shares during the last quarter. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

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.