Atlantic Power Corp. (AT) Given Consensus Rating of “Hold” by the Brokerages

Atlantic Power Corp. (AT) Given Consensus Rating of “Hold” by the Brokerages

Atlantic Power Corp. (NYSE:AT) has received a consensus rating of “Hold” from the six brokerages that are covering the firm. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.88.

A number of brokerages have recently weighed in on AT. National Bank Financial raised Atlantic Power Corp. from an “underperform market weight” rating to a “sector perform market weight” rating in a research note on Tuesday, November 8th. TD Securities reaffirmed a “hold” rating and issued a $2.75 price objective on shares of Atlantic Power Corp. in a research note on Saturday, August 13th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating on shares of Atlantic Power Corp. in a research note on Tuesday, November 8th.

Atlantic Power Corp. (NYSE:AT) opened at 2.40 on Wednesday. The firm’s market capitalization is $277.52 million. The company’s 50-day moving average price is $2.39 and its 200 day moving average price is $2.45. Atlantic Power Corp. has a 12 month low of $1.57 and a 12 month high of $2.75.

Atlantic Power Corp. (NYSE:AT) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.61. Atlantic Power Corp. had a negative net margin of 49.03% and a negative return on equity of 16.44%. The firm earned $101.20 million during the quarter, compared to analyst estimates of $107.50 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. Analysts predict that Atlantic Power Corp. will post ($0.33) EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in Atlantic Power Corp. by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 285,190 shares of the company’s stock worth $702,000 after buying an additional 123,240 shares during the period. Strs Ohio raised its position in Atlantic Power Corp. by 155.7% in the second quarter. Strs Ohio now owns 265,200 shares of the company’s stock worth $657,000 after buying an additional 161,500 shares during the period. ClariVest Asset Management LLC raised its position in Atlantic Power Corp. by 5.6% in the second quarter. ClariVest Asset Management LLC now owns 126,000 shares of the company’s stock worth $312,000 after buying an additional 6,700 shares during the period. Peak Asset Management LLC raised its position in Atlantic Power Corp. by 13.9% in the second quarter. Peak Asset Management LLC now owns 65,400 shares of the company’s stock worth $162,000 after buying an additional 8,000 shares during the period. Finally, RMB Capital Management LLC bought a new position in Atlantic Power Corp. during the second quarter worth about $1,240,000. Hedge funds and other institutional investors own 45.27% of the company’s stock.

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