Zacks Investment Research upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $76.00 target price on the solar cell manufacturer’s stock.
According to Zacks, “First Solar continues to focus on retaining its competitive edge and aims to further consolidate its position in the solar market. In fact, First Solar’s constant product innovation efforts will continue to attract customers and expand its revenue stream. The company also outperformed the broader industry in the last year. First Solar expects to eventually add more scope such as EPC and O&M services that would increase its overall systems bookings number. However, President Trump’s recent walk out from the landmark Paris deal, apart from initiatives to repeal the Clean Power Plan and boost coal production has kept the entire solar industry under immense pressure.”
A number of other equities analysts have also recently weighed in on FSLR. ValuEngine raised First Solar from a hold rating to a buy rating in a research note on Sunday, December 31st. Vetr cut First Solar from a hold rating to a sell rating and set a $49.20 price target on the stock. in a research note on Monday, September 25th. JPMorgan Chase & Co. set a $69.00 price target on First Solar and gave the stock a hold rating in a research note on Monday, December 18th. Roth Capital reissued a buy rating and issued a $60.00 price target on shares of First Solar in a research note on Tuesday, September 26th. Finally, Bank of America reissued a neutral rating and issued a $70.00 price target on shares of First Solar in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. First Solar presently has a consensus rating of Buy and an average price target of $63.22.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. First Solar’s revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. equities analysts anticipate that First Solar will post 2.52 earnings per share for the current fiscal year.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of First Solar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total value of $790,557.04. Following the sale, the insider now owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Energy Opportunities Capital Management LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at about $1,250,000. GSA Capital Partners LLP acquired a new stake in shares of First Solar during the 3rd quarter valued at about $488,000. Cetera Advisors LLC lifted its holdings in shares of First Solar by 16.0% during the 3rd quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock valued at $365,000 after buying an additional 1,100 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of First Solar during the 3rd quarter valued at about $1,519,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at about $2,720,000. Institutional investors and hedge funds own 50.87% of the company’s stock.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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