ValuEngine upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

CSIQ has been the topic of a number of other research reports. Goldman Sachs Group raised Canadian Solar from a neutral rating to a buy rating and raised their price objective for the company from $14.00 to $19.00 in a research report on Thursday, January 3rd. BidaskClub cut Canadian Solar from a strong-buy rating to a buy rating in a research report on Thursday, December 27th. Cascend Securities raised Canadian Solar from a hold rating to a buy rating in a report on Tuesday, December 18th. Roth Capital reissued a buy rating on shares of Canadian Solar in a report on Thursday, November 15th. Finally, JPMorgan Chase & Co. raised Canadian Solar from an underweight rating to a neutral rating and set a $17.00 price target on the stock in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $17.00.

Canadian Solar stock opened at $17.66 on Wednesday. The stock has a market cap of $998.23 million, a price-to-earnings ratio of 16.98, a PEG ratio of 0.22 and a beta of 1.74. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. Canadian Solar has a 52-week low of $11.37 and a 52-week high of $17.97.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, November 15th. The solar energy provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.50. Canadian Solar had a return on equity of 15.89% and a net margin of 4.73%. The business had revenue of $767.97 million for the quarter, compared to analysts’ expectations of $806.13 million. On average, sell-side analysts expect that Canadian Solar will post 2.65 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of Canadian Solar by 9.3% in the 2nd quarter. First Trust Advisors LP now owns 60,417 shares of the solar energy provider’s stock worth $740,000 after buying an additional 5,142 shares during the period. Sei Investments Co. grew its stake in Canadian Solar by 467.8% in the second quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock worth $141,000 after purchasing an additional 9,515 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Canadian Solar by 8.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,173 shares of the solar energy provider’s stock worth $957,000 after purchasing an additional 5,890 shares in the last quarter. Bank of America Corp DE boosted its stake in Canadian Solar by 16.6% in the second quarter. Bank of America Corp DE now owns 831,106 shares of the solar energy provider’s stock valued at $10,173,000 after acquiring an additional 118,621 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Canadian Solar by 352.1% in the second quarter. California Public Employees Retirement System now owns 292,403 shares of the solar energy provider’s stock valued at $3,579,000 after acquiring an additional 227,722 shares during the period. Hedge funds and other institutional investors own 39.58% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

Further Reading: Cost of Debt

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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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