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

Equities researchers at StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report issued on Tuesday. The firm set a “sell” rating on the utilities provider’s stock.

Several other analysts have also recently commented on the stock. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. National Bankshares raised their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. UBS Group cut Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $22.00 in a report on Thursday, May 30th. Finally, BMO Capital Markets raised their price objective 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Down 0.0 %

Shares of AY opened at $21.83 on Tuesday. The company has a market capitalization of $2.53 billion, a P/E ratio of 47.46, a PEG ratio of 1.39 and a beta of 1.02. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.35 and a quick ratio of 1.30. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47. The business’s 50 day simple moving average is $22.07 and its 200-day simple moving average is $20.73.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). The firm had revenue of $328.26 million during the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in AY. Charles Schwab Investment Management Inc. raised its position in Atlantica Sustainable Infrastructure by 15.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 413,922 shares of the utilities provider’s stock valued at $8,899,000 after purchasing an additional 53,862 shares in the last quarter. BNP Paribas Financial Markets raised its position in Atlantica Sustainable Infrastructure by 644.5% during the fourth quarter. BNP Paribas Financial Markets now owns 78,455 shares of the utilities provider’s stock valued at $1,687,000 after purchasing an additional 67,917 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Atlantica Sustainable Infrastructure during the fourth quarter valued at approximately $229,000. Rock Point Advisors LLC raised its position in Atlantica Sustainable Infrastructure by 196.5% during the fourth quarter. Rock Point Advisors LLC now owns 231,587 shares of the utilities provider’s stock valued at $4,979,000 after purchasing an additional 153,482 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Atlantica Sustainable Infrastructure during the fourth quarter valued at approximately $27,000. 40.53% of the stock is currently 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.