Published On: Mon, Sep 19th, 2016

TerraForm Power Inc. (TERP) Downgraded by Avondale Partners to “Market Perform”

TerraForm Power Inc. (NASDAQ:TERP) was downgraded by stock analysts at Avondale Partners from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday.
Other research analysts have also issued reports about the company. Zacks Investment Research raised TerraForm Power from a “strong sell” rating to a “hold” rating in a report on Thursday, June 16th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of TerraForm Power in a report on Wednesday, July 27th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $10.00 target price on shares of TerraForm Power in a report on Monday, May 2nd. Bank of America Corp. reiterated a “hold” rating and issued a $11.00 price target on shares of TerraForm Power in a research report on Tuesday, April 26th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of TerraForm Power in a research report on Thursday, April 7th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TerraForm Power has an average rating of “Hold” and a consensus price target of $16.80.
TerraForm Power (NASDAQ:TERP) traded down 0.76% during mid-day trading on Thursday, reaching $13.05. 1,579,609 shares of the company were exchanged. The stock’s 50-day moving average is $12.25 and its 200-day moving average is $10.38. The company’s market cap is $1.63 billion. TerraForm Power has a 12 month low of $6.73 and a 12 month high of $22.39.

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A number of large investors have recently made changes to their positions in the company. Brookfield Asset Management Inc. raised its stake in shares of TerraForm Power by 1,284.4% in the second quarter. Brookfield Asset Management Inc. now owns 11,075,000 shares of the company’s stock worth $120,718,000 after buying an additional 10,275,000 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of TerraForm Power during the second quarter valued at about $96,731,000. Appaloosa Management LP purchased a new stake in shares of TerraForm Power during the fourth quarter valued at about $95,608,000. Vanguard Group Inc. raised its stake in shares of TerraForm Power by 15.1% in the second quarter. Vanguard Group Inc. now owns 6,329,375 shares of the company’s stock valued at $68,991,000 after buying an additional 829,308 shares in the last quarter. Finally, Luxor Capital Group LP raised its stake in shares of TerraForm Power by 27.9% in the fourth quarter. Luxor Capital Group LP now owns 5,959,915 shares of the company’s stock valued at $74,976,000 after buying an additional 1,299,024 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
About TerraForm Power

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