Equities researchers at Williams Capital initiated coverage on shares of IdaCorp Inc. (NYSE:IDA) in a research note issued on Tuesday. The brokerage set a “hold” rating and a $75.00 price target on the stock. Williams Capital’s target price points to a potential downside of 0.28% from the company’s previous close.
IdaCorp (NYSE:IDA) opened at 75.21 on Tuesday. The firm’s 50-day moving average is $76.83 and its 200 day moving average is $76.18. IdaCorp has a 52-week low of $64.17 and a 52-week high of $83.40. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 20.22 and a beta of 0.50.
IdaCorp (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.99 by $0.13. IdaCorp had a net margin of 14.97% and a return on equity of 9.05%. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that IdaCorp will post $3.89 EPS for the current fiscal year.
In related news, insider Rex Blackburn sold 3,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now directly owns 27,456 shares in the company, valued at approximately $2,238,487.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Lamont Keen sold 4,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $78.54, for a total transaction of $314,160.00. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of IDA. Sei Investments Co. boosted its position in IdaCorp by 164.2% in the second quarter. Sei Investments Co. now owns 1,387 shares of the company’s stock valued at $112,000 after buying an additional 862 shares in the last quarter. Creative Planning boosted its position in IdaCorp by 0.9% in the third quarter. Creative Planning now owns 1,746 shares of the company’s stock valued at $137,000 after buying an additional 15 shares in the last quarter. State of Alaska Department of Revenue boosted its position in IdaCorp by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 1,880 shares of the company’s stock valued at $152,000 after buying an additional 105 shares in the last quarter. IFP Advisors Inc boosted its position in IdaCorp by 3.6% in the second quarter. IFP Advisors Inc now owns 1,911 shares of the company’s stock valued at $155,000 after buying an additional 67 shares in the last quarter. Finally, World Asset Management Inc purchased a new position in IdaCorp during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.