Analyst Rating Update on Pinnacle West Capital Corporation (PNW)

Pinnacle West Capital Corporation (NYSE:PNW) : The consensus on Pinnacle West Capital Corporation (NYSE:PNW) based on 8 analyst recommendation on the company stock is 3.04, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Pinnacle West Capital Corporation (NYSE:PNW).

Pinnacle West Capital Corporation (NYSE:PNW) : Average target price received by Pinnacle West Capital Corporation (NYSE:PNW) is $71.86 with an expected standard deviation of $3.02. The most aggressive target on the stock is $76, whereas the most downbeat target is $67. 7 financial analysts are currently covering the stock.

Company shares have received an average consensus rating of Hold for the current week

Pinnacle West Capital Corporation (NYSE:PNW): On Tuesdays trading session , Opening price of the stock was $79.19 with an intraday high of $79.3401. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $78.25. However, the stock managed to close at $79.05, a loss of 0.10% for the day. On the previous day, the stock had closed at $79.13. The total traded volume of the day was 980,922 shares.

In an insider trading activity,The director of Pinnacle West Capital Corp, Cortese Denis A. sold 2,000 shares at $72.87 on May 6, 2016. The Insider selling transaction had a total value worth of $145,740. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Companys operations primarily include electricity generation, transmission and distribution. The Companys subsidiaries include Arizona Public Service Company (APS), a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal, nuclear, gas, oil and solar generating facilities.

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