Royal Bank Of Canada Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

First Solar (NASDAQ:FSLR) had its price target upped by equities researchers at Royal Bank Of Canada from $188.00 to $200.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 17.29% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird cut their price objective on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price target on First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wall Street Zen downgraded First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.69.

First Solar Price Performance

NASDAQ:FSLR opened at $170.52 on Tuesday. First Solar has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.33 and a beta of 1.52. The stock’s 50 day moving average price is $154.81 and its two-hundred day moving average price is $154.89. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same quarter last year, the company posted $2.20 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider owned 11,369 shares of the company’s stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares of the company’s stock, valued at approximately $894,181.84. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock valued at $2,227,172 in the last quarter. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after purchasing an additional 63 shares during the last quarter. Harvest Portfolios Group Inc. increased its position in shares of First Solar by 3.9% during the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock worth $210,000 after buying an additional 63 shares during the period. Legend Financial Advisors Inc. increased its position in shares of First Solar by 1.4% during the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after buying an additional 64 shares during the period. Finally, Huntington National Bank raised its stake in First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after buying an additional 68 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.