First Solar (NASDAQ:FSLR) Upgraded to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of First Solar (NASDAQ:FSLR) from an in-line rating to an outperform rating in a research report released on Tuesday, MarketBeat.com reports. The firm currently has $227.00 target price on the solar cell manufacturer’s stock.

A number of other equities analysts have also issued reports on FSLR. Roth Mkm restated a buy rating and issued a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Mizuho raised their price target on First Solar from $188.00 to $196.00 and gave the company a buy rating in a report on Wednesday, January 3rd. Janney Montgomery Scott started coverage on First Solar in a research report on Friday, April 12th. They issued a buy rating and a $236.00 target price for the company. Oppenheimer reaffirmed an outperform rating and set a $269.00 price objective on shares of First Solar in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada restated an outperform rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $231.36.

First Solar Stock Performance

FSLR stock opened at $175.02 on Tuesday. The stock’s fifty day moving average is $162.96 and its two-hundred day moving average is $156.96. The stock has a market capitalization of $18.73 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted ($0.07) EPS. First Solar’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that First Solar will post 13.55 EPS for the current year.

Insider Transactions at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC grew its position in First Solar by 38.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,439 shares of the solar cell manufacturer’s stock worth $556,000 after purchasing an additional 951 shares during the last quarter. Ronald Blue Trust Inc. grew its position in First Solar by 58.4% during the third quarter. Ronald Blue Trust Inc. now owns 358 shares of the solar cell manufacturer’s stock worth $58,000 after buying an additional 132 shares in the last quarter. IFP Advisors Inc increased its stake in First Solar by 46.7% during the third quarter. IFP Advisors Inc now owns 729 shares of the solar cell manufacturer’s stock valued at $118,000 after acquiring an additional 232 shares during the period. HB Wealth Management LLC bought a new position in First Solar during the third quarter valued at about $206,000. Finally, Hartford Investment Management Co. raised its holdings in First Solar by 4.6% in the 3rd quarter. Hartford Investment Management Co. now owns 7,279 shares of the solar cell manufacturer’s stock valued at $1,176,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.