Barclays Lowers First Solar (NASDAQ:FSLR) Price Target to $273.00

First Solar (NASDAQ:FSLR) had its target price lowered by Barclays from $275.00 to $273.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the solar cell manufacturer’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lowered their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. 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 report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.67.

First Solar Stock Performance

Shares of FSLR stock opened at $164.31 on Monday. 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 business has a 50 day moving average of $188.49 and a two-hundred day moving average of $207.43. The company has a market cap of $17.59 billion, a P/E ratio of 14.15, a PEG ratio of 0.20 and a beta of 1.49. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that First Solar will post 13.07 EPS for the current year.

Hedge Funds Weigh In On First Solar

A number of institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC purchased a new stake in First Solar during the third quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank acquired a new position in First Solar in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC grew its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in First Solar during the 4th quarter valued at $53,000. 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.