First Solar (NASDAQ:FSLR) Upgraded to “Hold” at Vertical Group

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First Solar (NASDAQ:FSLR) was upgraded by research analysts at Vertical Group from a “sell” rating to a “hold” rating in a research note issued on Thursday, October 25th, The Fly reports.

Several other research firms have also commented on FSLR. Morgan Stanley cut their price objective on First Solar from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. JMP Securities lowered their target price on First Solar from $46.00 to $45.00 and set a “sell” rating for the company in a research note on Friday, July 27th. Zacks Investment Research upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. set a $79.00 target price on First Solar and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Credit Suisse Group raised their target price on First Solar from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.03.

NASDAQ:FSLR opened at $44.37 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.14 and a current ratio of 4.48. First Solar has a 12 month low of $36.51 and a 12 month high of $81.72. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 72.74, a P/E/G ratio of 1.81 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, beating the consensus estimate of $0.45 by $0.09. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. The company had revenue of $676.22 million for the quarter, compared to analyst estimates of $683.93 million. Equities research analysts anticipate that First Solar will post 1.52 EPS for the current fiscal year.

In related news, insider Raffi Garabedian sold 3,863 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $51.61, for a total transaction of $199,369.43. Following the sale, the insider now owns 2,057 shares of the company’s stock, valued at $106,161.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Management Inc. purchased a new position in First Solar during the 3rd quarter worth approximately $253,000. Nordea Investment Management AB grew its position in First Solar by 59.1% during the 3rd quarter. Nordea Investment Management AB now owns 84,360 shares of the solar cell manufacturer’s stock worth $4,085,000 after purchasing an additional 31,342 shares in the last quarter. Kentucky Retirement Systems purchased a new position in First Solar during the 3rd quarter worth approximately $318,000. Captrust Financial Advisors grew its position in First Solar by 1,315.8% during the 3rd quarter. Captrust Financial Advisors now owns 5,380 shares of the solar cell manufacturer’s stock worth $260,000 after purchasing an additional 5,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in First Solar by 3.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,853,115 shares of the solar cell manufacturer’s stock worth $89,728,000 after purchasing an additional 62,482 shares in the last quarter. 53.39% of the stock is currently owned by institutional investors.

About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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