Trina Solar Ltd. (TSL) Upgraded by Axiom Securities to “Buy”
Other equities research analysts have also issued reports about the stock. Credit Suisse Group AG restated a hold rating and issued a $11.60 price objective on shares of Trina Solar in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Trina Solar from a sell rating to a hold rating in a report on Thursday, August 11th. Morgan Stanley set a $11.60 price objective on shares of Trina Solar and gave the company a hold rating in a report on Wednesday, August 3rd. Roth Capital restated a neutral rating and issued a $10.00 price objective (up from $8.00) on shares of Trina Solar in a report on Tuesday, August 2nd. Finally, Cowen and Company lowered shares of Trina Solar from an outperform rating to a market perform rating and reduced their price objective for the company from $11.00 to $7.50 in a report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $9.81.
Trina Solar (NYSE:TSL) traded down 0.48% during midday trading on Thursday, reaching $10.33. 479,934 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $10.43 and its 200-day moving average price is $9.28. The company has a market capitalization of $877.35 million, a PE ratio of 11.98 and a beta of 1.55. Trina Solar has a 1-year low of $6.91 and a 1-year high of $11.35.
Trina Solar (NYSE:TSL) last released its earnings results on Tuesday, August 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.11. The company had revenue of $961.60 million for the quarter, compared to analyst estimates of $866.56 million. Trina Solar had a net margin of 2.51% and a return on equity of 11.34%. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Equities analysts expect that Trina Solar will post $0.39 EPS for the current year.
Several institutional investors have recently bought and sold shares of TSL. Pacad Investment Ltd. bought a new position in Trina Solar during the first quarter valued at about $156,000. Bank of Montreal Can bought a new position in Trina Solar during the second quarter valued at about $166,000. Tairen Capital Ltd bought a new position in Trina Solar during the second quarter valued at about $194,000. Scotia Capital Inc. raised its position in Trina Solar by 23.2% in the first quarter. Scotia Capital Inc. now owns 26,540 shares of the company’s stock valued at $264,000 after buying an additional 5,000 shares during the last quarter. Finally, Leucadia National Corp bought a new position in Trina Solar during the second quarter valued at about $425,000. Institutional investors own 61.68% of the company’s stock.
About Trina Solar
Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.
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