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

First Solar (NASDAQ:FSLR) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $227.00 price objective on the solar cell manufacturer’s stock. Evercore ISI’s target price points to a potential upside of 28.77% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Mizuho increased their price objective on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Roth Mkm reaffirmed a “buy” rating and set a $230.00 price target on shares of First Solar in a research note on Thursday, April 18th. Janney Montgomery Scott began coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective on the stock. Barclays increased their target price on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America lifted their price target on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.36.

First Solar Stock Performance

Shares of FSLR opened at $176.28 on Tuesday. The firm’s 50 day moving average price is $161.72 and its two-hundred day moving average price is $156.46. 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 twelve month low of $129.21 and a twelve month high of $232.00. The firm has a market cap of $18.87 billion, a P/E ratio of 22.78, a PEG ratio of 0.30 and a beta of 1.41.

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

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now owns 12,536 shares in the company, valued at approximately $2,193,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by insiders.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the first quarter worth approximately $25,000. First Pacific Financial acquired a new stake in First Solar during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar during the 4th quarter worth $27,000. Estabrook Capital Management acquired a new position in First Solar in the 3rd quarter valued at $29,000. Finally, Baystate Wealth Management LLC bought a new stake in shares of First Solar during the 4th quarter valued at $29,000. 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.