First Solar (NASDAQ:FSLR) Given New $267.00 Price Target at Robert W. Baird

First Solar (NASDAQ:FSLR) had its target price lowered by equities research analysts at Robert W. Baird from $307.00 to $267.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s target price would indicate a potential upside of 51.81% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Guggenheim reduced their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Royal Bank of Canada lowered their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI decreased their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Stock Performance

NASDAQ FSLR opened at $175.88 on Wednesday. The business’s 50-day simple moving average is $196.60 and its 200-day simple moving average is $221.29. The firm has a market capitalization of $18.83 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.35 and a beta of 1.46. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that First Solar will post 13.15 EPS for the current year.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of First Solar by 65.9% during the second quarter. Blue Trust Inc. now owns 408 shares of the solar cell manufacturer’s stock valued at $92,000 after acquiring an additional 162 shares during the period. Nisa Investment Advisors LLC boosted its stake in First Solar by 57.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,294 shares of the solar cell manufacturer’s stock valued at $1,419,000 after purchasing an additional 2,295 shares during the period. Fifth Third Bancorp grew its position in First Solar by 30.8% in the 2nd quarter. Fifth Third Bancorp now owns 2,724 shares of the solar cell manufacturer’s stock worth $614,000 after purchasing an additional 641 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of First Solar during the second quarter valued at approximately $195,000. Finally, L. Roy Papp & Associates LLP acquired a new position in shares of First Solar during the second quarter worth approximately $317,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.