Published On: Fri, Sep 23rd, 2016

TerraForm Power Inc. (TERP) Price Target Lowered to $13.00 at Robert W. Baird

TerraForm Power Inc. (NASDAQ:TERP) had its target price decreased by investment analysts at Robert W. Baird from $20.00 to $13.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential downside of 10.90% from the stock’s previous close.
TERP has been the topic of several other reports. Avondale Partners raised shares of TerraForm Power from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Wednesday, June 29th. Zacks Investment Research lowered shares of TerraForm Power from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of TerraForm Power in a research report on Wednesday, July 27th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.89.

Shares of TerraForm Power (NASDAQ:TERP) traded down 0.994% during mid-day trading on Friday, hitting $14.445. 361,238 shares of the stock traded hands. The firm’s market capitalization is $1.80 billion. TerraForm Power has a one year low of $6.73 and a one year high of $20.12. The company’s 50 day moving average is $12.55 and its 200 day moving average is $10.56.

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Several institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in TerraForm Power by 80.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 250,545 shares of the company’s stock valued at $2,731,000 after buying an additional 111,384 shares during the period. Legal & General Group Plc increased its position in TerraForm Power by 144.1% in the second quarter. Legal & General Group Plc now owns 16,255 shares of the company’s stock valued at $174,000 after buying an additional 9,595 shares during the period. Metropolitan Life Insurance Co. NY increased its position in TerraForm Power by 3,535.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 65,954 shares of the company’s stock valued at $719,000 after buying an additional 64,140 shares during the period. Cubist Systematic Strategies LLC increased its position in TerraForm Power by 86.3% in the second quarter. Cubist Systematic Strategies LLC now owns 24,280 shares of the company’s stock valued at $265,000 after buying an additional 11,246 shares during the period. Finally, AQR Capital Management LLC increased its position in TerraForm Power by 93.2% in the second quarter. AQR Capital Management LLC now owns 277,367 shares of the company’s stock valued at $3,023,000 after buying an additional 133,804 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.
About TerraForm Power

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