Roth Capital Analysts Give Ormat Technologies, Inc. (ORA) a $70.00 Price Target

Roth Capital set a $70.00 price target on Ormat Technologies, Inc. (NYSE:ORA) in a research report sent to investors on Monday. The firm currently has a buy rating on the energy company’s stock.

ORA has been the subject of a number of other research reports. Zacks Investment Research lowered Ormat Technologies from a buy rating to a hold rating in a report on Wednesday, August 9th. TheStreet lowered Ormat Technologies from a b rating to a c+ rating in a report on Monday, August 14th. Oppenheimer Holdings, Inc. restated a buy rating and set a $70.00 target price (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, Cowen and Company set a $67.00 target price on Ormat Technologies and gave the stock a buy rating in a report on Monday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $66.88.

Shares of Ormat Technologies (NYSE:ORA) opened at $63.21 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3,150.18, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.06 and a beta of 1.25. Ormat Technologies has a twelve month low of $45.67 and a twelve month high of $65.91.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). The company had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $159.02 million. Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. equities analysts forecast that Ormat Technologies will post 2.24 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. Ormat Technologies’s dividend payout ratio is presently 13.73%.

In other news, VP Shimon Hatzir sold 2,976 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $58.50, for a total transaction of $174,096.00. Following the completion of the sale, the vice president now owns 2,976 shares in the company, valued at approximately $174,096. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Granot sold 2,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $57.66, for a total value of $144,150.00. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at approximately $144,150. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,359 shares of company stock valued at $5,013,332. Company insiders own 14.74% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its holdings in shares of Ormat Technologies by 1.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 580,576 shares of the energy company’s stock valued at $35,444,000 after purchasing an additional 7,576 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Ormat Technologies by 12.7% during the 3rd quarter. California Public Employees Retirement System now owns 74,862 shares of the energy company’s stock valued at $4,570,000 after purchasing an additional 8,462 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ormat Technologies by 8.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 180,535 shares of the energy company’s stock valued at $11,022,000 after purchasing an additional 14,571 shares during the last quarter. Impax Asset Management LTD raised its stake in Ormat Technologies by 21.4% in the 3rd quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock worth $36,984,000 after acquiring an additional 106,654 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in Ormat Technologies by 4.2% in the 3rd quarter. Investec Asset Management LTD now owns 44,584 shares of the energy company’s stock worth $2,722,000 after acquiring an additional 1,797 shares during the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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