UBS Group Trims Canadian Solar (NASDAQ:CSIQ) Target Price to $35.00

Canadian Solar (NASDAQ:CSIQFree Report) had its target price trimmed by UBS Group from $38.00 to $35.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the solar energy provider’s stock.

Several other equities analysts have also weighed in on CSIQ. Roth Mkm reissued a buy rating and issued a $25.00 price objective on shares of Canadian Solar in a research report on Wednesday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $28.00 to $23.00 and set an equal weight rating on the stock in a research report on Tuesday, March 19th. The Goldman Sachs Group dropped their price objective on shares of Canadian Solar from $28.00 to $24.00 and set a neutral rating on the stock in a research report on Friday, March 15th. Citigroup dropped their price objective on shares of Canadian Solar from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Friday, March 15th. Finally, Daiwa Capital Markets began coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a neutral rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $28.89.

View Our Latest Analysis on Canadian Solar

Canadian Solar Stock Performance

NASDAQ CSIQ opened at $17.04 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $16.98 and its two-hundred day moving average price is $20.25. Canadian Solar has a 1 year low of $14.11 and a 1 year high of $41.51. The firm has a market capitalization of $1.13 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.35 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.20. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The company’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, research analysts anticipate that Canadian Solar will post 2.07 EPS for the current year.

Institutional Investors Weigh In On Canadian Solar

A number of large investors have recently bought and sold shares of CSIQ. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Canadian Solar by 137.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock worth $92,569,000 after buying an additional 2,180,240 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Canadian Solar by 27.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock valued at $103,661,000 after purchasing an additional 843,100 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Canadian Solar by 15.7% in the 4th quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock valued at $41,330,000 after purchasing an additional 213,959 shares in the last quarter. Creative Planning boosted its stake in shares of Canadian Solar by 103.3% in the 3rd quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock valued at $9,961,000 after purchasing an additional 205,671 shares in the last quarter. Finally, Robotti Robert boosted its stake in shares of Canadian Solar by 92.5% in the 1st quarter. Robotti Robert now owns 315,476 shares of the solar energy provider’s stock valued at $6,234,000 after purchasing an additional 151,610 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Solar

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Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.

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