Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.40.

Several brokerages have recently commented on CSIQ. BidaskClub upgraded shares of Canadian Solar from a “buy” rating to a “strong-buy” rating in a research note on Saturday. ValuEngine cut Canadian Solar from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Roth Capital reaffirmed a “buy” rating on shares of Canadian Solar in a report on Thursday, November 15th. Goldman Sachs Group set a $14.00 price target on Canadian Solar and gave the company a “hold” rating in a report on Friday, November 16th. Finally, JPMorgan Chase & Co. raised Canadian Solar from an “underweight” rating to a “neutral” rating and set a $17.00 price target for the company in a report on Thursday, November 15th.

Shares of NASDAQ:CSIQ opened at $16.66 on Tuesday. Canadian Solar has a 52 week low of $11.37 and a 52 week high of $17.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.83 and a current ratio of 0.92. The firm has a market capitalization of $966.33 million, a PE ratio of 5.65, a PEG ratio of 0.21 and a beta of 1.77.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, November 15th. The solar energy provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $806.13 million. On average, sell-side analysts forecast that Canadian Solar will post 2.45 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in CSIQ. Tower Research Capital LLC TRC bought a new position in shares of Canadian Solar in the third quarter valued at about $105,000. Sei Investments Co. raised its holdings in 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 last quarter. Belpointe Asset Management LLC bought a new stake in Canadian Solar during the 2nd quarter worth about $145,000. Engineers Gate Manager LP bought a new stake in Canadian Solar during the 3rd quarter worth about $161,000. Finally, Mackenzie Financial Corp bought a new stake in Canadian Solar during the 3rd quarter worth about $220,000. 39.58% of the stock is owned by institutional investors and hedge funds.

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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