FBR & Co cut shares of Canadian Solar Inc. (NASDAQ:CSIQ) from an outperform rating to a market perform rating in a research note released on Tuesday. They currently have $12.00 price target on the stock, down from their previous price target of $23.00.

A number of other analysts have also recently issued reports on CSIQ. Roth Capital set a $20.00 price objective on Canadian Solar and gave the stock a buy rating in a research note on Sunday, August 21st. Zacks Investment Research raised Canadian Solar from a sell rating to a hold rating in a research note on Monday, September 26th. Cowen and Company lowered Canadian Solar from an outperform rating to a market perform rating and reduced their price objective for the stock from $20.00 to $13.00 in a research note on Friday, August 19th. Canaccord Genuity set a $20.00 price objective on Canadian Solar and gave the stock a buy rating in a research note on Friday, August 19th. Finally, Standpoint Research reissued a buy rating and issued a $18.00 price objective on shares of Canadian Solar in a research note on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $21.15.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

Shares of Canadian Solar (NASDAQ:CSIQ) traded down 2.07% during trading on Tuesday, reaching $10.43. 568,975 shares of the company’s stock traded hands. Canadian Solar has a 1-year low of $10.25 and a 1-year high of $29.83. The company has a market capitalization of $602.62 million, a price-to-earnings ratio of 4.35 and a beta of 3.19. The company has a 50 day moving average of $13.71 and a 200-day moving average of $14.61.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The business had revenue of $657.30 million for the quarter, compared to the consensus estimate of $685.28 million. Canadian Solar had a return on equity of 15.81% and a net margin of 4.26%. The firm’s revenue was down 22.7% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Equities analysts predict that Canadian Solar will post $1.59 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC increased its stake in shares of 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 in the last quarter. State Street Corp increased its stake in shares of Canadian Solar by 2.9% in the second quarter. State Street Corp now owns 18,651 shares of the company’s stock worth $282,000 after buying an additional 520 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Canadian Solar by 1.4% in the second quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $853,000 after buying an additional 801 shares in the last quarter. RobecoSam USA Inc. increased its stake in shares of Canadian Solar by 3.2% in the second quarter. RobecoSam USA Inc. now owns 32,000 shares of the company’s stock worth $484,000 after buying an additional 1,000 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Canadian Solar by 13.4% in the second quarter. Royal Bank of Canada now owns 12,344 shares of the company’s stock worth $188,000 after buying an additional 1,462 shares in the last quarter. Hedge funds and other institutional investors own 37.48% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Canadian Solar Inc. (CSIQ) Downgraded by FBR & Co to “Market Perform”” was published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2016/11/23/canadian-solar-inc-csiq-downgraded-by-fbr-co-to-market-perform.html.

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

Receive News & Stock Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related stocks with our FREE daily email newsletter.