Vetr cut shares of Canadian Solar Inc. (NASDAQ:CSIQ) from a strong-buy rating to a buy rating in a research note published on Monday morning. They currently have $14.50 target price on the stock.
CSIQ has been the subject of several other research reports. Roth Capital set a $20.00 price objective on Canadian Solar and gave the stock a buy rating in a report on Sunday, August 21st. Zacks Investment Research cut Canadian Solar from a buy rating to a hold rating in a report on Friday, July 8th. FBR & Co dropped their price objective on Canadian Solar from $32.00 to $23.00 and set an outperform rating for the company in a report on Friday, August 19th. Cowen and Company cut Canadian Solar from an outperform rating to a market perform rating and dropped their price objective for the stock from $20.00 to $13.00 in a report on Friday, August 19th. Finally, Canaccord Genuity set a $20.00 price objective on Canadian Solar and gave the stock a buy rating in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $23.07.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 13.61 on Monday. The stock’s 50 day moving average price is $12.97 and its 200 day moving average price is $15.94. The company has a market cap of $784.00 million, a P/E ratio of 5.16 and a beta of 2.93. Canadian Solar has a 12-month low of $11.72 and a 12-month high of $29.83.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.31. Canadian Solar had a return on equity of 19.71% and a net margin of 4.45%. The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $735.82 million. During the same period last year, the company earned $0.31 EPS. Canadian Solar’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts forecast that Canadian Solar will post $1.56 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC raised its position in Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock worth $239,000 after buying an additional 484 shares during the period. Stevens Capital Management LP bought a new position in Canadian Solar during the second quarter worth $164,000. Landscape Capital Management L.L.C. bought a new position in Canadian Solar during the second quarter worth $166,000. BlackRock Inc. raised its position in Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock worth $182,000 after buying an additional 4,256 shares during the period. Finally, Guinness Asset Management Ltd raised its position in Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares during the period. 34.50% of the stock is owned by institutional investors.
Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
To view Vetr’s full report, visit Vetr’s official website.
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