Canadian Solar Inc. (CSIQ) Rating Lowered to Sell at Vetr Inc.
Canadian Solar Inc. (NASDAQ:CSIQ) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research note issued on Thursday. They presently have a $14.54 target price on the stock. Vetr‘s target price suggests a potential downside of 3.64% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. JMP Securities began coverage on Canadian Solar in a report on Thursday, September 8th. They issued a “market perform” rating on the stock. Standpoint Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Canadian Solar in a report on Tuesday, September 6th. Cowen and Company began coverage on Canadian Solar in a report on Thursday, August 25th. They issued an “outperform” rating and a $28.50 price objective on the stock. Finally, Barclays PLC lowered Canadian Solar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $24.00 to $14.00 in a report on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Canadian Solar currently has an average rating of “Hold” and an average target price of $23.07.
Canadian Solar (NASDAQ:CSIQ) traded up 2.58% during mid-day trading on Thursday, reaching $15.09. 2,079,547 shares of the company traded hands. The stock has a 50 day moving average price of $13.34 and a 200-day moving average price of $15.58. The company has a market capitalization of $869.26 million, a P/E ratio of 5.72 and a beta of 2.57. Canadian Solar has a 52-week low of $11.72 and a 52-week high of $29.83.
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Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.31. Canadian Solar had a return on equity of 19.71% and a net margin of 4.45%. The business had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $735.82 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts expect that Canadian Solar will post $1.56 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of CSIQ. HBK Investments L P purchased a new position in Canadian Solar during the first quarter worth about $2,784,000. Quentec Asset Management LLC raised its stake in Canadian Solar by 40.2% in the first quarter. Quentec Asset Management LLC now owns 740,376 shares of the company’s stock worth $14,274,000 after buying an additional 212,400 shares during the period. Delta Lloyd NV raised its stake in Canadian Solar by 14.8% in the second quarter. Delta Lloyd NV now owns 524,431 shares of the company’s stock worth $7,929,000 after buying an additional 67,471 shares during the period. RobecoSam USA Inc. raised its stake in Canadian Solar by 3.2% in the second quarter. RobecoSam USA Inc. now owns 32,000 shares of the company’s stock worth $484,000 after buying an additional 1,000 shares during the period. Finally, First Trust Advisors LP raised its stake in Canadian Solar by 1.4% in the second quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $853,000 after buying an additional 801 shares during the period. 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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