Published On: Sat, Sep 17th, 2016

Canadian Solar Inc. (CSIQ) Upgraded at Vetr Inc.

Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage currently has a $14.50 price target on the stock. Vetr‘s price objective points to a potential upside of 22.36% from the company’s current price.
A number of other equities research analysts have also recently issued reports on CSIQ. Roth Capital set a $20.00 target price on Canadian Solar and gave the company a “buy” rating in a research note on Sunday, August 21st. Zacks Investment Research cut Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. FBR & Co lowered their price target on Canadian Solar from $32.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 19th. Cowen and Company lowered Canadian Solar from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $20.00 to $13.00 in a report on Friday, August 19th. Finally, Canaccord Genuity set a $20.00 price target on Canadian Solar and gave the company a “buy” rating in a report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.07.
Canadian Solar (NASDAQ:CSIQ) opened at 11.85 on Tuesday. The firm has a 50-day moving average of $13.37 and a 200-day moving average of $16.51. The stock has a market capitalization of $682.62 million, a price-to-earnings ratio of 4.49 and a beta of 2.93. Canadian Solar has a 12-month low of $11.72 and a 12-month high of $29.83.

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Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.31. The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $735.82 million. Canadian Solar had a return on equity of 19.71% and a net margin of 4.45%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Equities research analysts forecast that Canadian Solar will post $1.60 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Stevens Capital Management LP bought a new position in shares of Canadian Solar during the second quarter worth $164,000. Landscape Capital Management L.L.C. bought a new position in shares of Canadian Solar during the second quarter worth $166,000. BlackRock Inc. boosted its position in shares of Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock worth $182,000 after buying an additional 4,256 shares in the last quarter. Guinness Asset Management Ltd boosted its position in shares of Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of Canadian Solar during the second quarter worth $184,000. 34.50% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Solar Company Profile
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.

To view Vetr’s full report, visit Vetr’s official website.

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