First Solar (NASDAQ:FSLR) Price Target Lowered to $236.00 at Barclays

First Solar (NASDAQ:FSLR) had its target price reduced by Barclays from $273.00 to $236.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the solar cell manufacturer’s stock.

Other research analysts have also recently issued research reports about the company. Guggenheim lowered their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada lowered their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research note on Wednesday. Finally, Citigroup lowered their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

Shares of FSLR stock opened at $136.18 on Friday. The firm has a market cap of $14.58 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar has a fifty-two week low of $133.90 and a fifty-two week high of $306.77. The business’s 50 day moving average price is $172.38 and its 200-day moving average price is $198.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, equities research analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Covestor Ltd grew its holdings in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after acquiring an additional 55 shares during the period. Field & Main Bank grew its holdings in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after acquiring an additional 55 shares during the period. Clear Harbor Asset Management LLC grew its holdings in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the period. Demars Financial Group LLC grew its holdings in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock worth $1,030,000 after acquiring an additional 56 shares during the period. Finally, Doliver Advisors LP grew its holdings in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.