New Lifetime High Reached By Idacorp (IDA)

Trade-Ideas LLC identified Idacorp ( IDA) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Idacorp as such a stock due to the following factors:

  • IDA has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $29.2 million.
  • IDA has traded 7,053 shares today.
  • IDA is trading at a new lifetime high.

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More details on IDA:

IDACORP, Inc., through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The stock currently has a dividend yield of 2.9%. IDA has a PE ratio of 18. Currently there are no analysts that rate Idacorp a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Idacorp has been 285,500 shares per day over the past 30 days. Idacorp has a market cap of $3.5 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.55 and a short float of 3.6% with 3.69 days to cover. Shares are up 2% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Idacorp as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity, solid stock price performance and attractive valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • The debt-to-equity ratio is somewhat low, currently at 0.85, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.08, which illustrates the ability to avoid short-term cash problems.
  • 37.73% is the gross profit margin for IDACORP INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 19.86% is above that of the industry average.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Electric Utilities industry and the overall market on the basis of return on equity, IDACORP INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • Compared to where it was trading a year ago, IDA's share price has not changed very much due to (a) the relatively weak year-over-year performance of the overall market, (b) the company's stagnant earnings, and (c) other mixed results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 8.1%. Since the same quarter one year prior, revenues slightly dropped by 3.4%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.

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