Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $14.92 target price on the stock. Vetr‘s price target points to a potential upside of 8.35% from the company’s current price.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. JMP Securities began coverage on Canadian Solar in a research report on Thursday, September 8th. They set a “market perform” rating on the stock. Standpoint Research reiterated a “buy” rating and set a $18.00 price target on shares of Canadian Solar in a research report on Tuesday, September 6th. Cowen and Company began coverage on Canadian Solar in a research report on Thursday, August 25th. They set an “outperform” rating and a $28.50 price target on the stock. Finally, Barclays PLC cut Canadian Solar from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $24.00 to $14.00 in a research report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Canadian Solar has an average rating of “Buy” and an average price target of $23.10.
Canadian Solar (NASDAQ:CSIQ) traded down 1.50% during trading on Tuesday, hitting $13.77. The stock had a trading volume of 1,132,966 shares. The firm’s 50-day moving average price is $13.06 and its 200-day moving average price is $15.73. The stock has a market cap of $793.22 million, a PE ratio of 5.22 and a beta of 2.57. Canadian Solar has a 1-year low of $11.72 and a 1-year high of $29.83.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $735.82 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Canadian Solar’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that Canadian Solar will post $1.56 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Group LTD raised its position in shares of Canadian Solar by 1.6% in the first quarter. BlackRock Group LTD now owns 954,424 shares of the company’s stock worth $18,402,000 after buying an additional 15,237 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Canadian Solar by 16.5% in the first quarter. BlackRock Fund Advisors now owns 91,374 shares of the company’s stock worth $1,762,000 after buying an additional 12,918 shares during the period. Investec Asset Management LTD increased its stake in shares of Canadian Solar by 21.8% in the first quarter. Investec Asset Management LTD now owns 247,543 shares of the company’s stock worth $4,773,000 after buying an additional 44,245 shares during the period. Ruffer LLP increased its stake in shares of Canadian Solar by 12.3% in the first quarter. Ruffer LLP now owns 660,236 shares of the company’s stock worth $12,739,000 after buying an additional 72,077 shares during the period. Finally, Neumeier Poma Investment Counsel LLC increased its stake in shares of Canadian Solar by 10.5% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 1,016,190 shares of the company’s stock worth $19,592,000 after buying an additional 96,255 shares during the period. 34.50% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.