Oppenheimer Keeps Their Buy Rating on Hannon Armstrong (HASI)


In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Hannon Armstrong (NYSE: HASI), with a price target of $25. The company’s shares closed yesterday at $19.22.

Kaye observed:

“HASI beat 2Q18 core EPS consensus by $0.06 while reiterating FY18 outlook for 2-6% core EPS growth. Although originations YTD of ~$300M are lighter yr./yr., HASI continues to target ~$1B of originations in FY18, with the timing of some transactions shifting from 2Q to 3Q. Management pointed to rebounding wind and solar deal activity following the digestion of tax law changes. We believe the company is prudently managing its balance sheet in the current yield environment, while continuing to harvest a healthy investment pipeline weighted to distributed assets with compelling economics. We view the current 6.9% dividend yield as attractive and maintain our Outperform rating.”

According to TipRanks.com, Kaye is a 4-star analyst with an average return of 5.7% and a 55.4% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, BorgWarner, and Cummins.

Hannon Armstrong has an analyst consensus of Strong Buy, with a price target consensus of $24.50.

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Hannon Armstrong’s market cap is currently $996.1M and has a P/E ratio of 54.66. The company has a Price to Book ratio of 1.60.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HASI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Hannon Armstrong Sustainable Infrastructure Capital, Inc. engages in the provision of capital and services focuses on reducing climate changing greenhouse gas emissions. It involves in the energy efficiency, renewable energy, and other sustainable infrastructure markets. The company was founded on November 7, 2012 and is headquartered in Annapolis, MD.

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