Bank of America Merrill Lynch Analysts Reiterate a "Underperform" Rating on SunPower Co. (SPWRA)
Monday, July 18, 2021 6:12 PM

Equities research analysts at Bank of America Merrill Lynch reiterated an "underperform" rating on shares of SunPower Co. (NASDAQ: SPWRA) in a research note to investors on Monday.

Separately, analysts at Collins Stewart downgraded shares of SunPower Co. from a "neutral" rating to a "sell" rating in a research note to investors on Monday. They now have a $15.00 price target on the stock. Also, analysts at Robert W. Baird downgraded shares of SunPower Co. from an "outperform" rating to a "neutral" rating in a research note to investors on Monday, July 11st. They now have a $19.00 price target on the stock.

Shares of SunPower Co. traded down 0.62% during mid-day trading on Tuesday, hitting $22.60. SunPower Co. has a 52 week low of $9.61 and a 52 week high of $23.36. The stock's 50-day moving average is $19.54 and its 200-day moving average is $17.3. The company has a market cap of $2.180 billion and a price-to-earnings ratio of 14.08.

SunPower Co. last announced its quarterly results on Thursday, May 12nd. The company reported $0.15 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.17 EPS by $0.02. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 30.00% on a year-over-year basis. On average, analysts predict that SunPower Co. will post $0.38 EPS next quarter.

SunPower Corporation (SunPower) is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. The Company operates through two business segments: components segment and systems segment. The Systems Segment represents sales directly to system owners and developers and includes engineering, procurement, construction (EPC) and other services relating to solar electric power systems that integrate the Company’s solar panels and balance of systems components, as well as materials sourced from other manufacturers. The Components Segment primarily represents sales of the Company’s solar panels and inverters to solar systems installers and other resellers, including the Company’s third-party global dealer network. On April 14, 2009, the Company completed the acquisition of Tilt Solar. In March 2010, the Company acquired SunRay Renewable Energy.

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