Brokerages Set Trina Solar Ltd. (TSL) Price Target at $11.39
Shares of Trina Solar Ltd. (NYSE:TSL) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.39.
TSL has been the topic of several recent research reports. Axiom Securities upgraded shares of Trina Solar from a “sell” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Thursday, October 6th. Zacks Investment Research cut shares of Trina Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Credit Suisse Group AG restated a “hold” rating and set a $11.60 target price on shares of Trina Solar in a research report on Wednesday, August 24th. Roth Capital restated a “neutral” rating and set a $10.00 target price on shares of Trina Solar in a research report on Thursday, August 25th. Finally, Morgan Stanley set a $11.60 target price on shares of Trina Solar and gave the company a “hold” rating in a research report on Wednesday, August 3rd.
Shares of Trina Solar (NYSE:TSL) opened at 10.29 on Friday. Trina Solar has a one year low of $6.91 and a one year high of $11.35. The firm has a 50-day moving average of $10.36 and a 200 day moving average of $9.37. The stock has a market capitalization of $873.95 million, a price-to-earnings ratio of 11.94 and a beta of 1.23.
Trina Solar (NYSE:TSL) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.31 by $0.11. The business had revenue of $961.60 million for the quarter, compared to analysts’ expectations of $866.56 million. Trina Solar had a net margin of 2.51% and a return on equity of 11.34%. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, equities research analysts predict that Trina Solar will post $1.01 EPS for the current year.
A number of institutional investors have recently modified their holdings of TSL. Northern Trust Corp increased its position in shares of Trina Solar by 9.8% in the third quarter. Northern Trust Corp now owns 14,310 shares of the company’s stock worth $147,000 after buying an additional 1,279 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Trina Solar during the second quarter worth approximately $166,000. Tairen Capital Ltd bought a new position in shares of Trina Solar during the second quarter worth approximately $194,000. Leucadia National Corp bought a new position in shares of Trina Solar during the second quarter worth approximately $425,000. Finally, Sensato Investors LLC bought a new position in shares of Trina Solar during the first quarter worth approximately $448,000. Institutional investors and hedge funds own 62.10% of the company’s stock.
Trina Solar Company Profile
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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