Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $14.92 target price on the stock. Vetr‘s target price indicates a potential upside of 3.97% from the stock’s previous close.
CSIQ has been the topic of a number of other research reports. Cowen and Company assumed coverage on Canadian Solar in a research report on Thursday, August 25th. They set an “outperform” rating and a $28.50 price objective on the stock. Barclays PLC downgraded Canadian Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $24.00 to $14.00 in a research report on Wednesday, August 24th. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, July 5th. FBR & Co reaffirmed a “buy” rating and set a $32.00 price objective on shares of Canadian Solar in a research report on Monday, June 27th. Finally, Standpoint Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Canadian Solar in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.10.
Canadian Solar (NASDAQ:CSIQ) traded down 3.30% during midday trading on Tuesday, hitting $14.35. 1,677,738 shares of the stock were exchanged. Canadian Solar has a 1-year low of $11.72 and a 1-year high of $29.83. The stock has a market cap of $826.63 million, a PE ratio of 5.44 and a beta of 2.57. The company’s 50 day moving average is $13.19 and its 200-day moving average is $15.68.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, August 18th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates 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 earned $805.90 million during the quarter, compared to the consensus estimate of $735.82 million. During the same period in the prior year, the company earned $0.31 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, analysts expect that Canadian Solar will post $1.56 earnings per share for the current year.
Several hedge funds have recently modified their holdings of CSIQ. Pictet Asset Management Ltd. raised its position in Canadian Solar by 2.9% in the first quarter. Pictet Asset Management Ltd. now owns 1,074,754 shares of the company’s stock worth $24,472,000 after buying an additional 30,005 shares during the period. Ruffer LLP raised its position in Canadian Solar by 60.8% in the second quarter. Ruffer LLP now owns 1,061,914 shares of the company’s stock worth $16,061,000 after buying an additional 401,678 shares during the period. Quentec Asset Management LLC raised its position in Canadian Solar by 38.5% in the second quarter. Quentec Asset Management LLC now owns 1,025,265 shares of the company’s stock worth $15,502,000 after buying an additional 284,889 shares during the period. Neumeier Poma Investment Counsel LLC raised its position in 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. Finally, BlackRock Group LTD raised its position in Canadian Solar by 0.9% in the second quarter. BlackRock Group LTD now owns 962,823 shares of the company’s stock worth $14,558,000 after buying an additional 8,399 shares during the period. 34.50% of the stock is currently 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.