Canadian Solar Inc. (NASDAQ:CSIQ) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $14.92 price target on the stock. Vetr‘s price objective suggests a potential upside of 1.43% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Roth Capital set a $20.00 price objective on shares of Canadian Solar and gave the stock a “buy” rating in a research report on Sunday, August 21st. FBR & Co reaffirmed a “buy” rating and set a $32.00 price objective on shares of Canadian Solar in a research report on Monday, June 27th. Morgan Stanley downgraded shares of Canadian Solar from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $24.00 to $12.80 in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Finally, Barclays PLC downgraded shares of Canadian Solar from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.10.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) opened at 14.71 on Tuesday. The firm has a 50-day moving average of $13.11 and a 200-day moving average of $15.72. Canadian Solar has a 52 week low of $11.72 and a 52 week high of $29.83. The company has a market cap of $847.37 million, a price-to-earnings ratio of 5.57 and a beta of 2.57.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.37 by $0.31. The company earned $805.90 million during the quarter, compared to the consensus estimate of $735.82 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Equities analysts forecast that Canadian Solar will post $1.56 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in CSIQ. Riverhead Capital Management LLC boosted its stake in Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock worth $239,000 after buying an additional 484 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Canadian Solar during the second quarter worth approximately $164,000. Landscape Capital Management L.L.C. acquired a new stake in Canadian Solar during the second quarter worth approximately $166,000. BlackRock Inc. boosted its stake in Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock worth $182,000 after buying an additional 4,256 shares during the last quarter. Finally, Guinness Asset Management Ltd boosted its stake in Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares during the last quarter. Institutional investors own 34.50% of the company’s stock.

About Canadian Solar

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

5 Day Chart for NASDAQ:CSIQ

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