Robert W. Baird Reaffirms “Hold” Rating for First Solar, Inc. (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a report issued on Friday, October 27th. They currently have a $53.00 target price on the solar cell manufacturer’s stock. Robert W. Baird’s price target would suggest a potential downside of 13.51% from the stock’s current price.

Several other equities research analysts have also commented on FSLR. Zacks Investment Research lowered shares of First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating on shares of First Solar in a research report on Tuesday, July 11th. Cowen and Company set a $40.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Monday, July 10th. Vetr lowered shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $47.53 price objective on the stock. in a research report on Monday, July 17th. Finally, Axiom Securities upgraded shares of First Solar from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $45.40 to $51.00 in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.61.

First Solar (NASDAQ FSLR) opened at $61.28 on Friday. First Solar has a 1-year low of $25.56 and a 1-year high of $62.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The company has a market cap of $6,432.03, a price-to-earnings ratio of 15.10 and a beta of 1.99.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. During the same period last year, the firm posted $1.22 EPS. First Solar’s quarterly revenue was up 59.5% on a year-over-year basis. analysts predict that First Solar will post 2.47 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of First Solar by 7,977.6% in the 1st quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after purchasing an additional 6,836,843 shares during the period. Schroder Investment Management Group boosted its position in shares of First Solar by 12,600.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after purchasing an additional 1,666,064 shares during the period. Key Square Capital Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $23,621,000. Ecofin Ltd. acquired a new position in shares of First Solar in the 2nd quarter valued at $19,485,000. Finally, Lord Abbett & CO. LLC acquired a new stake in First Solar during the 2nd quarter worth about $15,099,000. 53.55% of the stock is owned by institutional investors and hedge funds.

About First Solar

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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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