Barclays Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price reduced by Barclays from $275.00 to $273.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price objective would suggest a potential upside of 70.37% from the company’s previous close.

FSLR has been the subject of a number of other research reports. Jefferies Financial Group dropped their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Robert W. Baird cut their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Morgan Stanley decreased their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.29.

First Solar Trading Down 2.5 %

First Solar stock opened at $160.24 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.20 and a beta of 1.49. The firm has a 50 day moving average of $187.95 and a 200 day moving average of $206.91.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $2.50 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that First Solar will post 13.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Western Financial Corp CA bought a new stake in shares of First Solar in the 3rd quarter valued at about $1,209,000. Whalen Wealth Management Inc. lifted its position in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares during the last quarter. Stifel Financial Corp grew its holdings in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after purchasing an additional 5,780 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of First Solar by 802.1% during 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 in the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after purchasing an additional 3,607 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.