First Solar (FSLR) Upgraded at ValuEngine

ValuEngine upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Other equities research analysts have also recently issued reports about the company. Argus raised First Solar from a hold rating to a buy rating and set a $60.00 price objective on the stock in a research report on Tuesday, December 4th. JPMorgan Chase & Co. set a $75.00 price objective on First Solar and gave the company a buy rating in a research report on Tuesday, October 30th. Bank of America dropped their price objective on First Solar from $63.00 to $53.00 and set a buy rating on the stock in a research report on Monday, October 29th. UBS Group set a $85.00 price objective on First Solar and gave the company a buy rating in a research report on Friday, October 26th. Finally, Roth Capital set a $65.00 price objective on First Solar and gave the company a buy rating in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. First Solar has a consensus rating of Hold and an average target price of $65.09.

First Solar stock opened at $43.64 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.14 and a current ratio of 4.48. First Solar has a one year low of $36.51 and a one year high of $81.72. The firm has a market cap of $4.57 billion, a P/E ratio of 71.54, a price-to-earnings-growth ratio of 1.79 and a beta of 1.32.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, beating the consensus estimate of $0.45 by $0.09. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. The company had revenue of $676.22 million for the quarter, compared to analysts’ expectations of $683.93 million. As a group, equities analysts anticipate that First Solar will post 1.51 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Vident Investment Advisory LLC boosted its position in First Solar by 2.2% in the second quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock worth $2,814,000 after purchasing an additional 1,162 shares during the last quarter. Lansdowne Partners UK LLP boosted its position in First Solar by 147.5% in the second quarter. Lansdowne Partners UK LLP now owns 325,582 shares of the solar cell manufacturer’s stock worth $17,145,000 after purchasing an additional 194,033 shares during the last quarter. Alps Advisors Inc. purchased a new position in First Solar in the second quarter worth about $442,000. SFE Investment Counsel boosted its position in First Solar by 35.7% in the third quarter. SFE Investment Counsel now owns 28,855 shares of the solar cell manufacturer’s stock worth $1,397,000 after purchasing an additional 7,597 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in First Solar in the second quarter worth about $113,000. 52.17% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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