Roth Capital Reiterates “Buy” Rating for Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQGet Rating)‘s stock had its “buy” rating reaffirmed by stock analysts at Roth Capital in a report released on Wednesday, PriceTargets.com reports.

Several other analysts also recently weighed in on CSIQ. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $43.00 to $38.00 in a research report on Wednesday, September 7th. StockNews.com initiated coverage on shares of Canadian Solar in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target 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 assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.67.

Canadian Solar Stock Up 2.7 %

Shares of NASDAQ:CSIQ opened at $37.01 on Wednesday. The company has a market capitalization of $2.37 billion, a PE ratio of 13.61 and a beta of 1.28. The company has a current ratio of 1.20, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Canadian Solar has a twelve month low of $22.15 and a twelve month high of $47.69. The firm has a 50 day simple moving average of $34.81 and a 200-day simple moving average of $34.75.

Canadian Solar (NASDAQ:CSIQGet Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The solar energy provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.54. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.07 billion. Canadian Solar had a net margin of 2.68% and a return on equity of 8.11%. The company’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, equities analysts predict that Canadian Solar will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its stake in Canadian Solar by 5.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 7,168 shares of the solar energy provider’s stock valued at $223,000 after buying an additional 380 shares during the period. abrdn plc grew its stake in shares of Canadian Solar by 6.9% during the 2nd quarter. abrdn plc now owns 44,022 shares of the solar energy provider’s stock worth $1,371,000 after purchasing an additional 2,850 shares during the period. Scotia Capital Inc. grew its stake in shares of Canadian Solar by 5.7% during the 2nd quarter. Scotia Capital Inc. now owns 32,450 shares of the solar energy provider’s stock worth $1,011,000 after purchasing an additional 1,738 shares during the period. McGowan Group Asset Management Inc. acquired a new position in shares of Canadian Solar during the 1st quarter worth $208,000. Finally, Duality Advisers LP acquired a new position in shares of Canadian Solar during the 1st quarter worth $358,000. 50.21% of the stock is owned by institutional investors and hedge funds.

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.

Featured Stories

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.