Canadian Solar (NASDAQ:CSIQ) Receives “Buy” Rating from Roth Capital

Canadian Solar (NASDAQ:CSIQGet Rating)‘s stock had its “buy” rating reaffirmed by Roth Capital in a note issued to investors on Wednesday, PriceTargets.com reports.

Several other research analysts have also commented on CSIQ. StockNews.com started coverage on shares of Canadian Solar in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $43.00 to $38.00 in a report on Wednesday, September 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Canadian Solar from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Solar currently has a consensus rating of “Hold” and an average price target of $41.67.

Canadian Solar Trading Up 2.7 %

NASDAQ CSIQ opened at $37.01 on Wednesday. Canadian Solar has a one year low of $22.15 and a one year high of $47.69. The company’s 50 day moving average price is $34.81 and its 200 day moving average price is $34.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.20. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 13.61 and a beta of 1.28.

Canadian Solar (NASDAQ:CSIQGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The solar energy provider reported $1.12 EPS for the quarter, beating the consensus estimate of $0.58 by $0.54. Canadian Solar had a net margin of 2.68% and a return on equity of 8.11%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $0.42 earnings per share. Canadian Solar’s revenue for the quarter was up 57.2% compared to the same quarter last year. On average, sell-side analysts predict that Canadian Solar will post 2.66 EPS for the current year.

Institutional Trading of Canadian Solar

Large investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC acquired a new stake in Canadian Solar in the third quarter valued at approximately $27,000. Great West Life Assurance Co. Can grew its position in shares of Canadian Solar by 115.7% during the first quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock worth $41,000 after buying an additional 589 shares in the last quarter. Toroso Investments LLC grew its position in shares of Canadian Solar by 24.2% during the third quarter. Toroso Investments LLC now owns 2,727 shares of the solar energy provider’s stock worth $102,000 after buying an additional 531 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Canadian Solar by 13.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,203 shares of the solar energy provider’s stock worth $131,000 after buying an additional 483 shares in the last quarter. Finally, Credit Agricole S A acquired a new stake in shares of Canadian Solar during the third quarter worth approximately $149,000. Institutional investors and hedge funds own 50.21% of the company’s stock.

About Canadian Solar

(Get Rating)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.

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