First Solar (FSLR) Raised to “Outperform” at Robert W. Baird

First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The firm presently has a $82.00 price target on the solar cell manufacturer’s stock, up from their previous price target of $69.00. Robert W. Baird’s price objective points to a potential upside of 17.11% from the company’s current price.

Several other research analysts also recently commented on the company. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a report on Wednesday, August 16th. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $47.67 target price on the stock in a report on Wednesday, August 16th. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America reaffirmed a “buy” rating and set a $64.00 target price on shares of First Solar in a report on Tuesday, August 29th. Finally, ValuEngine downgraded First Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. First Solar presently has a consensus rating of “Hold” and an average price target of $59.47.

Shares of First Solar (NASDAQ:FSLR) opened at $70.02 on Monday. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar has a twelve month low of $25.56 and a twelve month high of $70.27. The firm has a market capitalization of $7,312.40, a price-to-earnings ratio of 17.16 and a beta of 2.03.

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

In other news, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Several hedge funds have recently bought and sold shares of FSLR. Fiduciary Trust Co. bought a new position in shares of First Solar in the 2nd quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Solar by 64.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of First Solar in the 2nd quarter worth about $208,000. World Asset Management Inc bought a new position in shares of First Solar in the 2nd quarter worth about $221,000. Finally, Riverhead Capital Management LLC increased its position in First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after buying an additional 2,560 shares in the last quarter. 51.21% of the stock is owned by hedge funds and other institutional investors.

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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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