Zacks: IDACORP Inc (IDA) Given Consensus Recommendation of “Hold” by Brokerages

IDACORP Inc (NYSE:IDA) has received a consensus broker rating score of 3.25 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. IDACORP’s rating score has declined by 8.3% from 90 days ago as a result of a number of analysts’ ratings changes.

Analysts have set a 1 year consensus price target of $87.33 for the company and are forecasting that the company will post $0.67 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 225 out of 265 based on the ratings given to related companies.

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of IDACORP in a research note on Tuesday. They issued an “underperform” rating and a $85.00 price target on the stock. Zacks Investment Research lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, KeyCorp restated a “hold” rating on shares of IDACORP in a research note on Friday, October 20th.

Shares of IDACORP (NYSE IDA) traded up $0.03 during trading hours on Friday, hitting $83.32. 445,304 shares of the company’s stock traded hands, compared to its average volume of 243,422. IDACORP has a 12 month low of $78.05 and a 12 month high of $100.04. The firm has a market capitalization of $4,200.00, a price-to-earnings ratio of 20.32, a P/E/G ratio of 4.92 and a beta of 0.55. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 EPS for the quarter, beating the consensus estimate of $1.66 by $0.14. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. The company had revenue of $408.32 million for the quarter. During the same quarter in the previous year, the business posted $1.65 EPS. sell-side analysts anticipate that IDACORP will post 4.11 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of IDA. Zions Bancorporation bought a new position in shares of IDACORP in the third quarter valued at approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 224 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 111 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after acquiring an additional 930 shares in the last quarter. Finally, ETRADE Capital Management LLC bought a new position in shares of IDACORP in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 75.51% of the company’s stock.

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About IDACORP

IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.

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