Healthcare of Ontario Pension Plan Trust Fund Purchases 11,092 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Canadian Solar Inc. (NASDAQ:CSIQ) by 16.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 76,806 shares of the solar energy provider’s stock after buying an additional 11,092 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Canadian Solar were worth $1,518,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSIQ. Mackenzie Financial Corp lifted its holdings in shares of Canadian Solar by 27.1% during the fourth 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. Vanguard Group Inc. boosted its holdings in shares of Canadian Solar by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock valued at $48,343,000 after acquiring an additional 8,317 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Canadian Solar by 15.7% in the fourth quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock worth $41,330,000 after acquiring an additional 213,959 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Canadian Solar by 30.9% during the first quarter. BNP Paribas Financial Markets now owns 198,646 shares of the solar energy provider’s stock valued at $3,925,000 after purchasing an additional 46,888 shares during the last quarter. Finally, KBC Group NV lifted its position in Canadian Solar by 24.8% during the fourth quarter. KBC Group NV now owns 181,953 shares of the solar energy provider’s stock valued at $4,773,000 after purchasing an additional 36,170 shares during the period. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Price Performance

Shares of CSIQ stock traded up $0.34 on Thursday, hitting $16.20. 1,315,724 shares of the stock traded hands, compared to its average volume of 1,550,593. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. Canadian Solar Inc. has a 52 week low of $13.80 and a 52 week high of $37.70. The firm has a 50 day simple moving average of $16.79 and a two-hundred day simple moving average of $18.65. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.31 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The business’s quarterly revenue was down 21.1% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. As a group, equities research analysts predict that Canadian Solar Inc. will post 2.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CSIQ shares. UBS Group decreased their target price on shares of Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Roth Mkm reissued a “buy” rating and issued a $25.00 target price on shares of Canadian Solar in a research report on Wednesday, May 22nd. StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.67.

Canadian Solar Profile

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.