StockNews.com Initiates Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

Analysts at StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note issued to investors on Monday. The firm set a “sell” rating on the utilities provider’s stock.

Several other brokerages also recently commented on AY. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. Bank of America reduced their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. National Bankshares raised their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 28th. BMO Capital Markets lifted their price target on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Finally, Seaport Res Ptn lowered shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $21.88 on Monday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The firm’s 50-day moving average is $21.95 and its 200-day moving average is $20.10. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $25.22. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 47.57, a PEG ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $242.93 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.09) EPS. Equities research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Institutional Trading of Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of AY. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atlantica Sustainable Infrastructure during the fourth quarter worth approximately $27,000. Rational Advisors LLC grew its holdings in Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares in the last quarter. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the 1st quarter worth $42,000. Clean Yield Group increased its position in Atlantica Sustainable Infrastructure by 71.4% during the 4th quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after buying an additional 2,500 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after buying an additional 1,064 shares in the last quarter. Institutional investors own 40.53% of the company’s stock.

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.