Trina Solar Ltd. (TSL) Stock Rating Upgraded by Axiom Securities
Trina Solar Ltd. (NYSE:TSL) was upgraded by equities research analysts at Axiom Securities from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $15.00 price objective on the stock. Axiom Securities’ price objective points to a potential upside of 45.07% from the company’s current price.
TSL has been the topic of a number of other reports. Cowen and Company downgraded shares of Trina Solar from an “outperform” rating to a “market perform” rating and cut their target price for the company from $11.00 to $7.50 in a research report on Friday, July 15th. Zacks Investment Research downgraded shares of Trina Solar from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 27th. Credit Suisse Group AG reiterated a “hold” rating and issued a $11.60 price target on shares of Trina Solar in a research report on Wednesday, August 24th. Roth Capital reiterated a “neutral” rating and issued a $10.00 price target on shares of Trina Solar in a research report on Thursday, August 25th. Finally, Morgan Stanley set a $11.60 price target on shares of Trina Solar and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Trina Solar presently has an average rating of “Hold” and an average target price of $11.39.
Shares of Trina Solar (NYSE:TSL) opened at 10.34 on Thursday. Trina Solar has a 1-year low of $6.91 and a 1-year high of $11.35. The firm has a 50-day moving average of $10.42 and a 200-day moving average of $9.28. The firm has a market capitalization of $878.20 million, a PE ratio of 12.00 and a beta of 1.55.
Trina Solar (NYSE:TSL) last released its earnings results on Tuesday, August 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. Trina Solar had a net margin of 2.51% and a return on equity of 11.34%. The company had revenue of $961.60 million for the quarter, compared to the consensus estimate of $866.56 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was up 33.0% compared to the same quarter last year. On average, equities research analysts anticipate that Trina Solar will post $0.39 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Trina Solar by 35.1% in the third quarter. BNP Paribas Arbitrage SA now owns 64,766 shares of the company’s stock valued at $663,000 after buying an additional 16,815 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Trina Solar during the second quarter valued at $989,000. Guggenheim Capital LLC boosted its position in shares of Trina Solar by 23.4% in the second quarter. Guggenheim Capital LLC now owns 1,626,682 shares of the company’s stock valued at $12,591,000 after buying an additional 307,982 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Trina Solar by 5.0% in the second quarter. Van ECK Associates Corp now owns 175,465 shares of the company’s stock valued at $1,358,000 after buying an additional 8,409 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. acquired a new position in shares of Trina Solar during the second quarter valued at $1,858,000. 61.68% of the stock is owned by institutional investors.
Trina Solar Company Profile
Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.
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