BidaskClub Downgrades Atlantica Yield PLC (ABY) to Strong Sell

Atlantica Yield PLC (NASDAQ:ABY) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Monday.

ABY has been the subject of several other reports. Zacks Investment Research upgraded shares of Atlantica Yield PLC from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Tuesday, July 11th. TheStreet upgraded shares of Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday, June 12th. Finally, ValuEngine upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.80.

Shares of Atlantica Yield PLC (ABY) opened at 19.73 on Monday. Atlantica Yield PLC has a one year low of $16.55 and a one year high of $22.87. The firm’s 50-day moving average price is $21.03 and its 200-day moving average price is $20.78. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 63.65 and a beta of 1.12.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in Atlantica Yield PLC in the 1st quarter worth approximately $107,000. SG Americas Securities LLC purchased a new position in Atlantica Yield PLC in the 1st quarter worth approximately $119,000. Bronfman E.L. Rothschild L.P. purchased a new position in Atlantica Yield PLC in the 2nd quarter worth approximately $139,000. Sei Investments Co. raised its holdings in Atlantica Yield PLC by 885.9% in the 2nd quarter. Sei Investments Co. now owns 8,114 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 7,291 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Atlantica Yield PLC in the 1st quarter worth approximately $254,000. Institutional investors own 47.78% of the company’s stock.

Atlantica Yield PLC Company Profile

Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).

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