Canadian Solar (CSIQ) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on CSIQ. Zacks Investment Research downgraded shares of Canadian Solar from a buy rating to a hold rating in a research note on Friday, August 17th. B. Riley dropped their price objective on shares of Canadian Solar from $18.00 to $17.00 and set a hold rating for the company in a research note on Thursday, August 23rd. ValuEngine raised shares of Canadian Solar from a strong sell rating to a sell rating in a research note on Friday, September 7th. JPMorgan Chase & Co. downgraded shares of Canadian Solar from a neutral rating to an underweight rating and set a $15.00 price objective for the company. in a research note on Monday, October 22nd. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $14.00 price objective on shares of Canadian Solar and gave the company a hold rating in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Canadian Solar currently has a consensus rating of Hold and an average price target of $16.17.

NASDAQ CSIQ opened at $16.66 on Friday. Canadian Solar has a 12 month low of $11.37 and a 12 month high of $17.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.83. The stock has a market cap of $966.33 million, a PE ratio of 5.65, a P/E/G ratio of 0.21 and a beta of 1.77.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, November 15th. The solar energy provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.50. Canadian Solar had a net margin of 4.73% and a return on equity of 15.89%. The company had revenue of $767.97 million during the quarter, compared to the consensus estimate of $806.13 million. On average, analysts expect that Canadian Solar will post 2.45 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. First Trust Advisors LP grew its holdings in shares of Canadian Solar by 9.3% during the 2nd quarter. First Trust Advisors LP now owns 60,417 shares of the solar energy provider’s stock worth $740,000 after purchasing an additional 5,142 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Canadian Solar by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 78,173 shares of the solar energy provider’s stock worth $957,000 after purchasing an additional 5,890 shares during the period. Guinness Asset Management Ltd grew its holdings in shares of Canadian Solar by 30.0% during the 2nd quarter. Guinness Asset Management Ltd now owns 30,800 shares of the solar energy provider’s stock worth $377,000 after purchasing an additional 7,100 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Canadian Solar during the 3rd quarter worth about $105,000. Finally, Sei Investments Co. grew its holdings in shares of Canadian Solar by 467.8% during the 2nd quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock worth $141,000 after purchasing an additional 9,515 shares during the period. Institutional investors and hedge funds own 39.58% of the company’s stock.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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