First Solar (FSLR) Rating Increased to Outperform at Robert W. Baird

First Solar (NASDAQ:FSLR) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The brokerage presently has a $82.00 target price on the solar cell manufacturer’s stock, up from their prior target price of $69.00. Robert W. Baird’s target price points to a potential upside of 19.00% from the company’s previous close.

Several other equities research analysts have also commented on the company. Vetr lowered First Solar from a “hold” rating to a “sell” rating and set a $65.50 target price on the stock. in a research report on Thursday, December 7th. Deutsche Bank upped their target price on First Solar from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Cowen restated an “outperform” rating and set a $77.00 target price (up previously from $60.00) on shares of First Solar in a research report on Wednesday, December 6th. ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of First Solar in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $61.00.

Shares of First Solar (NASDAQ:FSLR) opened at $68.91 on Monday. The firm has a market capitalization of $7,312.40, a PE ratio of 17.16 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a one year low of $25.56 and a one year high of $71.80.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.47 EPS for the current year.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado boosted its holdings in First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after acquiring an additional 165 shares in the last quarter. Intellectus Partners LLC boosted its holdings in First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after acquiring an additional 200 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in First Solar by 0.8% in the second quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock worth $1,905,000 after acquiring an additional 360 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in First Solar by 4.9% in the second quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock worth $403,000 after acquiring an additional 470 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in First Solar by 1.5% in the second quarter. Arizona State Retirement System now owns 33,000 shares of the solar cell manufacturer’s stock worth $1,316,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 51.21% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “First Solar (FSLR) Rating Increased to Outperform at Robert W. Baird” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://ledgergazette.com/2017/12/13/first-solar-fslr-rating-increased-to-outperform-at-robert-w-baird.html.

First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply