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

First Solar (NASDAQ:FSLR) had its price target decreased by investment analysts at Robert W. Baird from $307.00 to $267.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s price objective suggests a potential upside of 41.82% from the stock’s current price.

A number of other equities research analysts have also commented on FSLR. Royal Bank of Canada dropped their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler lifted their price objective on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Price Performance

Shares of FSLR stock opened at $188.27 on Wednesday. The firm has a market capitalization of $20.16 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $198.01 and a 200-day moving average of $221.87.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that First Solar will post 13.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar during the third quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the 3rd quarter valued at $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC increased its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC acquired a new position in First Solar in the second quarter valued at about $36,000. 92.08% of the stock is owned by institutional investors.

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.