IDACORP Inc (IDA) Given Consensus Rating of “Hold” by Analysts

IDACORP Inc (NYSE:IDA) has been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $87.33.

IDA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Wednesday, April 11th. Bank of America initiated coverage on shares of IDACORP in a report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price target for the company. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Williams Capital reiterated a “hold” rating and set a $80.00 price target (down from $86.00) on shares of IDACORP in a report on Monday, February 26th.

In related news, CFO Steven R. Keen sold 3,557 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $87.72, for a total value of $312,020.04. Following the completion of the sale, the chief financial officer now directly owns 17,240 shares in the company, valued at $1,512,292.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Tessia Park sold 300 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $85.40, for a total transaction of $25,620.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Motco purchased a new stake in IDACORP in the fourth quarter valued at approximately $100,000. Two Sigma Securities LLC purchased a new stake in IDACORP in the fourth quarter valued at approximately $202,000. Cypress Wealth Advisors LLC purchased a new stake in IDACORP in the fourth quarter valued at approximately $203,000. Mountain Pacific Investment Advisers Inc. ID purchased a new stake in IDACORP in the fourth quarter valued at approximately $204,000. Finally, Vident Investment Advisory LLC purchased a new stake in IDACORP in the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 75.65% of the company’s stock.

Shares of NYSE IDA opened at $87.70 on Tuesday. The stock has a market cap of $4,320.64, a PE ratio of 20.83, a PEG ratio of 5.04 and a beta of 0.39. IDACORP has a 12 month low of $79.59 and a 12 month high of $100.04. The company has a quick ratio of 1.65, a current ratio of 2.21 and a debt-to-equity ratio of 0.77.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 22nd. The coal producer reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The business had revenue of $305.61 million during the quarter, compared to the consensus estimate of $274.05 million. IDACORP had a net margin of 15.74% and a return on equity of 9.59%. During the same period in the previous year, the firm posted $0.66 earnings per share. research analysts predict that IDACORP will post 4.18 earnings per share for the current fiscal year.

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About IDACORP

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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