Canadian Solar Inc. (CSIQ) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Canadian Solar Inc. (NASDAQ:CSIQ) from a buy rating to a strong-buy rating in a research note released on Tuesday. They currently have $14.50 price target on the stock.
A number of other equities research analysts have also commented on CSIQ. Roth Capital set a $20.00 target price on Canadian Solar and gave the company a buy rating in a research report on Sunday, August 21st. Zacks Investment Research lowered Canadian Solar from a buy rating to a hold rating in a research report on Friday, July 8th. FBR & Co lowered their price objective on Canadian Solar from $32.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, August 19th. Cowen and Company lowered Canadian Solar from an outperform rating to a market perform rating and lowered their price objective for the stock from $20.00 to $13.00 in a research 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 research report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Canadian Solar has an average rating of Buy and a consensus target price of $23.07.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 11.85 on Tuesday. The company has a market cap of $682.62 million, a PE ratio of 4.49 and a beta of 2.93. The company has a 50-day moving average of $13.60 and a 200 day moving average of $16.65. Canadian Solar has a 12 month low of $11.72 and a 12 month high of $29.83.
Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, August 18th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.31. The firm had revenue of $805.90 million for the quarter, compared to analyst estimates of $735.82 million. Canadian Solar had a return on equity of 19.71% and a net margin of 4.45%. Canadian Solar’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, analysts anticipate that Canadian Solar will post $1.60 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Stevens Capital Management LP acquired a new position in shares of Canadian Solar during the second quarter worth about $164,000. Landscape Capital Management L.L.C. acquired a new position in shares of Canadian Solar during the second quarter worth about $166,000. BlackRock Inc. raised its position in shares of 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. Guinness Asset Management Ltd raised its position in shares of 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. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Canadian Solar during the second quarter worth about $184,000. Hedge funds and other institutional investors own 34.50% of the company’s stock.
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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