Robert W. Baird upgraded shares of First Solar (NASDAQ:FSLR) from a neutral rating to an outperform rating in a research report report published on Monday morning, Marketbeat.com reports. Robert W. Baird currently has $82.00 target price on the solar cell manufacturer’s stock, up from their previous target price of $69.00.
Other equities analysts have also issued research reports about the stock. JMP Securities set a $67.00 target price on shares of First Solar and gave the stock a buy rating in a research report on Wednesday, August 16th. Roth Capital restated a buy rating and issued a $60.00 price objective on shares of First Solar in a research report on Tuesday, September 26th. Deutsche Bank upgraded shares of First Solar from a hold rating to a buy rating and raised their price objective for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Vetr upgraded shares of First Solar from a hold rating to a buy rating and set a $48.80 price objective for the company in a research report on Monday, September 11th. Finally, Cowen restated a buy rating and issued a $57.00 price objective on shares of First Solar in a research report on Sunday, September 3rd. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $61.47.
First Solar (NASDAQ FSLR) opened at $67.89 on Monday. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The firm has a market cap of $7,151.57, a PE ratio of 16.78 and a beta of 2.03. First Solar has a 1 year low of $25.56 and a 1 year high of $71.80.
First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the business earned $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.52 EPS for the current fiscal year.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Fiduciary Trust Co. purchased a new position in shares of First Solar during the second quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp purchased a new position in shares of First Solar during the second quarter worth approximately $208,000. World Asset Management Inc purchased a new position in shares of First Solar in the second quarter worth $221,000. Finally, Riverhead Capital Management LLC increased its stake in shares of First Solar by 82.6% in the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after buying an additional 2,560 shares during the period. 51.21% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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