Axiom Securities Analysts Give Canadian Solar Inc. (CSIQ) a $26.00 Price Target

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned a $26.00 price objective by analysts at Axiom Securities in a report issued on Wednesday. The firm currently has a “buy” rating on the solar energy provider’s stock. Axiom Securities’ target price suggests a potential upside of 49.00% from the company’s current price.

Several other equities analysts also recently commented on CSIQ. B. Riley reaffirmed a “neutral” rating on shares of Canadian Solar in a research report on Wednesday, November 1st. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday. BidaskClub raised Canadian Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. FBR & Co reaffirmed a “neutral” rating and issued a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. Finally, Roth Capital raised Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.01.

Canadian Solar (CSIQ) opened at $17.45 on Wednesday. Canadian Solar has a 12-month low of $10.36 and a 12-month high of $19.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. The company has a market capitalization of $1,028.40, a P/E ratio of 84.43, a PEG ratio of 0.70 and a beta of 3.12.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The company had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. sell-side analysts expect that Canadian Solar will post 0.97 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacad Investment Ltd. bought a new stake in Canadian Solar during the second quarter worth $115,000. Legal & General Group Plc lifted its stake in Canadian Solar by 111.1% during the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares during the last quarter. Paloma Partners Management Co bought a new stake in Canadian Solar during the first quarter worth $303,000. Columbus Circle Investors bought a new stake in Canadian Solar during the second quarter worth $318,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Canadian Solar during the second quarter worth $323,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.

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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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