First Solar (NASDAQ:FSLR) Price Target Cut to $285.00 by Analysts at UBS Group

First Solar (NASDAQ:FSLR) had its target price cut by investment analysts at UBS Group from $360.00 to $285.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s price target indicates a potential upside of 101.87% from the stock’s previous close.

A number of other brokerages have also weighed in on FSLR. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, 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 report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $263.63.

First Solar Stock Performance

NASDAQ FSLR opened at $141.18 on Wednesday. First Solar has a 1-year low of $140.84 and a 1-year high of $306.77. The company has a 50 day moving average of $173.30 and a 200-day moving average of $198.68. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $15.11 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, equities analysts forecast that First Solar will post 13.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of FSLR. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the third quarter valued at $29,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC grew its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter worth approximately $53,000. 92.08% of the stock is currently owned by 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.