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 $18.0 million.
  • IDA has traded 126,902 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 2.8%. IDA has a PE ratio of 19. 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 282,700 shares per day over the past 30 days. Idacorp has a market cap of $3.7 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 5.89 days to cover. Shares are up 8.5% year-to-date as of the close of trading on Wednesday.

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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 good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • Net operating cash flow has increased to $62.37 million or 28.56% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 2.04%.
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings 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.
  • IDACORP INC's earnings per share declined by 8.7% in the most recent quarter compared to the same quarter a year ago. Stable earnings per share over the past year indicate the company has sound management over its earnings and share float. We anticipate these figures will begin to experience more growth in the coming year. During the past fiscal year, IDACORP INC increased its bottom line by earning $3.87 versus $3.86 in the prior year. This year, the market expects an improvement in earnings ($3.90 versus $3.87).
  • 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. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.81 is somewhat weak and could be cause for future problems.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 8.2%. Since the same quarter one year prior, revenues slightly dropped by 1.5%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

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