Canadian Solar Inc. (CSIQ) Stock Rating Upgraded by Roth Capital
Roth Capital upgraded shares of Canadian Solar Inc. (NASDAQ:CSIQ) from a neutral rating to a buy rating in a research note published on Friday, Marketbeat Ratings reports. They currently have $24.00 price target on the solar energy provider’s stock.
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Canadian Solar from a strong-buy rating to a hold rating in a report on Monday, August 28th. Cowen and Company reaffirmed a hold rating and issued a $17.00 target price on shares of Canadian Solar in a report on Sunday, October 22nd. Barclays PLC downgraded shares of Canadian Solar from an equal weight rating to an underweight rating and lifted their target price for the company from $12.00 to $14.00 in a report on Monday, August 21st. Axiom Securities reaffirmed a buy rating on shares of Canadian Solar in a report on Saturday, July 22nd. Finally, BidaskClub downgraded shares of Canadian Solar from a buy rating to a hold rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $19.12.
Canadian Solar (CSIQ) traded down $0.34 during midday trading on Friday, reaching $17.40. 434,005 shares of the company’s stock were exchanged, compared to its average volume of 1,265,675. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1,031.59, a price-to-earnings ratio of 84.69, a PEG ratio of 0.87 and a beta of 3.12. Canadian Solar has a one year low of $10.36 and a one year high of $19.09.
Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. research analysts anticipate that Canadian Solar will post 1.11 EPS for the current year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Quentec Asset Management LLC boosted its holdings in Canadian Solar by 1.9% during the third quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock worth $46,405,000 after buying an additional 52,412 shares in the last quarter. J&P China Capital Management CO. Ltd. purchased a new stake in shares of Canadian Solar in the third quarter valued at about $11,792,000. Prescott Group Capital Management L.L.C. lifted its holdings in shares of Canadian Solar by 2.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 664,341 shares of the solar energy provider’s stock valued at $10,576,000 after purchasing an additional 17,980 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Canadian Solar by 10.2% in the first quarter. Bank of America Corp DE now owns 492,227 shares of the solar energy provider’s stock valued at $6,040,000 after purchasing an additional 45,650 shares in the last quarter. Finally, Calamos Advisors LLC lifted its holdings in shares of Canadian Solar by 45.2% in the third quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock valued at $6,872,000 after purchasing an additional 127,073 shares in the last quarter. 40.01% of the stock is currently owned by hedge funds and other institutional investors.
About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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