Bank of America Cuts First Solar (NASDAQ:FSLR) Price Target to $236.00

First Solar (NASDAQ:FSLR) had its price target cut by Bank of America from $246.00 to $236.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

FSLR has been the topic of a number of other research reports. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Tuesday, October 29th. Roth Mkm dropped their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $276.29.

First Solar Stock Up 0.8 %

FSLR stock opened at $167.39 on Tuesday. The stock has a 50-day simple moving average of $187.26 and a two-hundred day simple moving average of $206.36. First Solar has a twelve month low of $135.88 and a twelve month high of $306.77. The firm has a market capitalization of $17.92 billion, a PE ratio of 14.42, a PEG ratio of 0.20 and a beta of 1.49. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm posted $2.50 EPS. First Solar’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that First Solar will post 13.07 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of the stock. Western Financial Corp CA purchased a new stake in First Solar in the third quarter worth about $1,209,000. Whalen Wealth Management Inc. lifted its stake in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the period. Stifel Financial Corp boosted its position in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares in the last quarter. iA Global Asset Management Inc. grew its stake in First Solar by 802.1% in the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after purchasing an additional 18,192 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.