Canadian Solar (CSIQ) PT Set at $15.00 by B. Riley
Canadian Solar (NASDAQ:CSIQ) received a $15.00 target price from B. Riley in a note issued to investors on Friday. The firm currently has a “hold” rating on the solar energy provider’s stock. B. Riley’s price target points to a potential downside of 13.29% from the stock’s current price.
Several other brokerages also recently commented on CSIQ. Roth Capital raised Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Friday, November 10th. JPMorgan Chase & Co. downgraded Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 target price for the company. in a report on Tuesday, December 12th. Zacks Investment Research downgraded Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Axiom Securities downgraded Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a report on Friday, December 15th. Finally, Cowen set a $18.00 target price on Canadian Solar and gave the company a “hold” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.82.
Shares of Canadian Solar (CSIQ) traded up $0.37 during midday trading on Friday, hitting $17.30. The stock had a trading volume of 934,000 shares, compared to its average volume of 781,787. Canadian Solar has a twelve month low of $10.86 and a twelve month high of $19.09. The stock has a market capitalization of $971.84, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 0.36 and a beta of 3.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95.
Hedge funds have recently modified their holdings of the business. Pacad Investment Ltd. acquired a new position in Canadian Solar in the 2nd quarter worth about $115,000. Legal & General Group Plc increased its position in Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Canadian Solar in the 2nd quarter worth about $323,000. State Street Corp increased its position in Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Canadian Solar in the 2nd quarter worth about $370,000. 42.08% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.