Analysts Set Canadian Solar Inc. (NASDAQ:CSIQ) Price Target at $18.58

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned an average rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.58.

Several analysts have issued reports on CSIQ shares. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $14.00 to $11.00 in a report on Tuesday, December 17th. Mizuho began coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target on the stock. Citigroup downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 5th. Finally, StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th.

Canadian Solar Trading Up 1.2 %

Shares of NASDAQ:CSIQ opened at $12.19 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The stock has a market capitalization of $806.48 million, a price-to-earnings ratio of -101.58, a PEG ratio of 8.89 and a beta of 1.29. Canadian Solar has a 1-year low of $10.60 and a 1-year high of $25.43. The company has a 50 day moving average price of $12.41 and a 200 day moving average price of $13.80.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company’s revenue was down 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. On average, research analysts anticipate that Canadian Solar will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Canadian Solar by 34.6% in the 2nd quarter. Rhumbline Advisers now owns 19,459 shares of the solar energy provider’s stock valued at $287,000 after buying an additional 5,003 shares in the last quarter. Foundry Partners LLC bought a new stake in Canadian Solar in the second quarter worth approximately $3,667,000. SIR Capital Management L.P. acquired a new position in shares of Canadian Solar during the 2nd quarter worth $3,994,000. American Century Companies Inc. raised its holdings in shares of Canadian Solar by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after purchasing an additional 1,383 shares in the last quarter. Finally, DRW Securities LLC lifted its stake in shares of Canadian Solar by 36.0% in the 2nd quarter. DRW Securities LLC now owns 68,000 shares of the solar energy provider’s stock valued at $1,003,000 after purchasing an additional 18,000 shares during the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.