Argus upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a research note released on Tuesday, Marketbeat.com reports. They currently have $60.00 price target on the solar cell manufacturer’s stock.

A number of other research analysts have also recently weighed in on FSLR. Zacks Investment Research upgraded shares of First Solar from a sell rating to a hold rating in a research report on Friday, October 26th. BidaskClub upgraded shares of First Solar from a sell rating to a hold rating in a research report on Saturday, August 11th. ValuEngine upgraded shares of First Solar from a sell rating to a hold rating in a research report on Thursday, November 1st. Roth Capital set a $65.00 price objective on shares of First Solar and gave the company a buy rating in a research report on Friday, October 26th. Finally, Bank of America cut their price objective on shares of First Solar from $63.00 to $53.00 and set a buy rating on the stock in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $67.47.

FSLR stock opened at $43.71 on Tuesday. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.09. First Solar has a twelve month low of $36.51 and a twelve month high of $81.72. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.83 and a beta of 1.32.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.09. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. The business had revenue of $676.22 million for the quarter, compared to analysts’ expectations of $683.93 million. As a group, analysts anticipate that First Solar will post 1.51 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Investment Advisory LLC grew its holdings in shares of First Solar by 2.2% in the second quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock worth $2,814,000 after purchasing an additional 1,162 shares during the last quarter. Lansdowne Partners UK LLP grew its holdings in shares of First Solar by 147.5% in the second quarter. Lansdowne Partners UK LLP now owns 325,582 shares of the solar cell manufacturer’s stock worth $17,145,000 after purchasing an additional 194,033 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of First Solar in the second quarter worth about $442,000. SFE Investment Counsel grew its holdings in shares of First Solar by 35.7% in the third quarter. SFE Investment Counsel now owns 28,855 shares of the solar cell manufacturer’s stock worth $1,397,000 after purchasing an additional 7,597 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of First Solar in the second quarter worth about $113,000. Hedge funds and other institutional investors own 52.17% of the company’s stock.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

Featured Article: What are municipal bonds?

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.