IDACORP, Inc. (NYSE:IDA) Receives $102.60 Consensus Price Target from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have received an average rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $102.60.

Several research analysts recently issued reports on IDA shares. TheStreet raised shares of IDACORP from a “c+” rating to a “b” rating in a report on Thursday, October 22nd. Sidoti reduced their target price on shares of IDACORP from $108.00 to $101.00 and set a “buy” rating for the company in a report on Monday, September 21st. Finally, BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Saturday, December 12th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in IDACORP by 22.9% in the third quarter. Fifth Third Bancorp now owns 1,035 shares of the energy company’s stock valued at $83,000 after buying an additional 193 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in IDACORP by 1.9% in the third quarter. UBS Asset Management Americas Inc. now owns 87,650 shares of the energy company’s stock valued at $7,003,000 after buying an additional 1,594 shares in the last quarter. California Public Employees Retirement System increased its holdings in IDACORP by 2.3% in the third quarter. California Public Employees Retirement System now owns 114,950 shares of the energy company’s stock valued at $9,185,000 after buying an additional 2,536 shares in the last quarter. Raymond James & Associates increased its holdings in IDACORP by 827.9% in the third quarter. Raymond James & Associates now owns 315,569 shares of the energy company’s stock valued at $25,214,000 after buying an additional 281,559 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in IDACORP by 13.1% in the second quarter. Bank of America Corp DE now owns 353,292 shares of the energy company’s stock valued at $30,868,000 after buying an additional 40,963 shares in the last quarter. 72.14% of the stock is owned by institutional investors.

NYSE IDA opened at $96.03 on Wednesday. The company has a fifty day simple moving average of $93.26 and a two-hundred day simple moving average of $89.30. The stock has a market cap of $4.85 billion, a P/E ratio of 19.68, a P/E/G ratio of 7.76 and a beta of 0.42. IDACORP has a 12-month low of $69.05 and a 12-month high of $113.58. The company has a current ratio of 2.26, a quick ratio of 1.92 and a debt-to-equity ratio of 0.78.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 29th. The energy company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.10. The business had revenue of $425.26 million during the quarter, compared to analysts’ expectations of $378.28 million. IDACORP had a net margin of 18.60% and a return on equity of 9.86%. During the same quarter last year, the company posted $1.78 earnings per share. As a group, sell-side analysts forecast that IDACORP will post 4.6 earnings per share for the current year.

IDACORP Company Profile

IDACORP, Inc engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in three coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Analyst Recommendations for IDACORP (NYSE:IDA)

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