First Solar (NASDAQ:FSLR) PT Raised to $211.00

First Solar (NASDAQ:FSLR) had its target price lifted by Jefferies Financial Group from $209.50 to $211.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 10.15% from the stock’s current price.

Several other analysts also recently commented on FSLR. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Bank of America increased their target price on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $250.00 in a report on Friday, April 19th. Morgan Stanley upped their price target on First Solar from $245.00 to $248.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DZ Bank began coverage on First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Stock Up 6.1 %

FSLR stock traded up $11.04 during midday trading on Thursday, reaching $191.55. The company had a trading volume of 3,008,268 shares, compared to its average volume of 2,074,836. The company has a 50 day moving average of $166.57 and a two-hundred day moving average of $158.28. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The company has a market capitalization of $20.50 billion, a P/E ratio of 20.08, a PEG ratio of 0.31 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same period last year, the company earned $0.40 earnings per share. First Solar’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities research analysts expect that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other 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 transaction of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction that occurred 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 sale, the insider now directly owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the company’s 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 completion of the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 over the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Large investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar during the 4th quarter valued at about $27,000. Baystate Wealth Management LLC acquired a new position in First Solar in the fourth quarter valued at about $29,000. Estabrook Capital Management bought a new stake in First Solar during the third quarter worth about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of First Solar during the first quarter worth approximately $32,000. 92.08% of the stock is currently owned by institutional investors.

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.