Analysts Set Altus Power, Inc. (NYSE:AMPS) PT at $5.06

Shares of Altus Power, Inc. (NYSE:AMPS) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.13.

AMPS has been the subject of a number of recent research reports. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. B. Riley lowered shares of Altus Power from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Friday, February 7th. Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday, February 6th. Finally, UBS Group cut shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Monday, February 10th.

Insider Activity at Altus Power

In other Altus Power news, insider Anthony Savino sold 8,823 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the sale, the insider now directly owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregg J. Felton sold 71,161 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $349,400.51. Following the completion of the sale, the chief executive officer now directly owns 4,023,696 shares of the company’s stock, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,146 shares of company stock valued at $437,707 in the last quarter. Insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Altus Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC boosted its position in shares of Altus Power by 20.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after acquiring an additional 1,336,044 shares during the period. State Street Corp boosted its holdings in Altus Power by 0.6% in the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company’s stock valued at $11,712,000 after purchasing an additional 21,312 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Altus Power by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after purchasing an additional 263,393 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Altus Power by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock worth $7,756,000 after purchasing an additional 26,760 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Altus Power by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock worth $6,370,000 after buying an additional 10,450 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Altus Power Price Performance

NYSE AMPS opened at $4.95 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $795.14 million, a PE ratio of 22.48 and a beta of 0.98. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.50. The company has a 50 day moving average price of $4.54 and a two-hundred day moving average price of $3.97.

Altus Power (NYSE:AMPS) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Altus Power had a return on equity of 4.79% and a net margin of 19.18%. The firm had revenue of $44.47 million for the quarter, compared to the consensus estimate of $46.64 million. As a group, equities analysts predict that Altus Power will post 0.14 earnings per share for the current fiscal year.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.