Canadian Solar (NASDAQ:CSIQ) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

CSIQ has been the subject of several other research reports. Goldman Sachs began coverage on shares of Canadian Solar in a research report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 price target for the company. B. Riley set a $15.00 price target on shares of Canadian Solar and gave the company a “hold” rating in a research report on Monday, December 11th. BidaskClub upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Cowen set a $18.00 price target on shares of Canadian Solar and gave the company a “hold” rating in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 price target for the company in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.84.

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Canadian Solar stock traded up $1.11 during mid-day trading on Monday, reaching $16.60. 2,531,360 shares of the company traded hands, compared to its average volume of 708,353. Canadian Solar has a 1 year low of $10.86 and a 1 year high of $19.09. The stock has a market cap of $898.47, a P/E ratio of 42.57, a price-to-earnings-growth ratio of 0.32 and a beta of 2.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Monday, March 19th. The solar energy provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. Canadian Solar’s revenue for the quarter was up 65.9% on a year-over-year basis. research analysts anticipate that Canadian Solar will post 0.9 EPS for the current year.

A number of institutional investors have recently made changes to their positions in CSIQ. Northern Trust Corp raised its position in Canadian Solar by 11.7% during the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after buying an additional 3,198 shares during the last quarter. State Street Corp raised its position in Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after buying an additional 1,227 shares during the last quarter. Cipher Capital LP raised its position in Canadian Solar by 11.7% during the 3rd quarter. Cipher Capital LP now owns 108,975 shares of the solar energy provider’s stock worth $1,835,000 after buying an additional 11,394 shares during the last quarter. Columbus Circle Investors raised its position in Canadian Solar by 292.7% during the 3rd quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider’s stock worth $1,320,000 after buying an additional 58,421 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Canadian Solar by 20.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 59,255 shares of the solar energy provider’s stock worth $998,000 after buying an additional 9,932 shares during the last quarter. Institutional investors own 39.13% of the company’s stock.

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About Canadian Solar

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 ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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