Raymond James Upgrades Inergy to Market Perform (NRGY)
Inergy (NASDAQ: NRGY) was upgraded by analysts at Raymond James (NYSE: RJF) from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday.
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird upgraded shares of Inergy from an “underperform” rating to a “neutral” rating in a research note to investors on Friday. They now have a $21.00 price target on the stock, up previously from $15.00. Separately, analysts at Credit Suisse (NYSE: CS) initiated coverage on shares of Inergy in a research note to investors on Wednesday, March 21st. They set an “outperform” rating and a $19.00 price target on the stock. Finally, analysts at UBS AG (NYSE: UBS) cut their price target on shares of Inergy from $18.00 to $14.00 in a research note to investors on Thursday, March 15th. They now have a “neutral” rating on the stock.
Inergy traded down 0.42% on Friday, hitting $19.00. Inergy has a 52-week low of $15.06 and a 52-week high of $41.22. The company’s market cap is $2.389 billion.
The company last announced its quarterly results on Tuesday, January 31st. It reported ($0.03) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.25 EPS by $0.28. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts expect that Inergy will post $-0.17 EPS next quarter.
Inergy, L.P. (Inergy) owns and operates a retail and wholesale propane supply, marketing and distribution business.