Axiom Securities set a $26.00 price objective on Canadian Solar Inc. (NASDAQ:CSIQ) in a research report report published on Wednesday. The brokerage currently has a buy rating on the solar energy provider’s stock.

CSIQ has been the subject of a number of other reports. Zacks Investment Research cut Canadian Solar from a strong-buy rating to a hold rating in a report on Monday, August 28th. Vetr raised Canadian Solar from a buy rating to a strong-buy rating and set a $19.06 price target for the company in a report on Thursday, August 10th. Cowen and Company reaffirmed a hold rating and set a $17.00 price target on shares of Canadian Solar in a report on Sunday, October 22nd. BidaskClub cut Canadian Solar from a buy rating to a hold rating in a report on Saturday, August 19th. Finally, Barclays PLC cut Canadian Solar from an equal weight rating to an underweight rating and raised their price target for the company from $12.00 to $14.00 in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $20.01.

Shares of Canadian Solar (CSIQ) traded up $0.09 on Wednesday, hitting $17.55. The stock had a trading volume of 687,045 shares, compared to its average volume of 1,260,756. Canadian Solar has a fifty-two week low of $10.36 and a fifty-two week high of $19.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market cap of $1,010.00, a PE ratio of 83.10, a PEG ratio of 0.69 and a beta of 3.12.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. During the same period in the prior year, the firm posted $0.27 EPS. Canadian Solar’s quarterly revenue was up 38.8% compared to the same quarter last year. analysts anticipate that Canadian Solar will post 0.97 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in CSIQ. J&P China Capital Management CO. Ltd. bought a new position in shares of Canadian Solar in the 3rd quarter worth $11,792,000. Quentec Asset Management LLC boosted its position in shares of Canadian Solar by 18.6% in the 2nd quarter. Quentec Asset Management LLC now owns 2,703,253 shares of the solar energy provider’s stock worth $43,036,000 after purchasing an additional 424,601 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of Canadian Solar in the 2nd quarter worth $4,474,000. Delta Lloyd Asset Management N.V. bought a new position in shares of Canadian Solar in the 2nd quarter worth $3,662,000. Finally, Quantitative Investment Management LLC bought a new position in shares of Canadian Solar in the 2nd quarter worth $2,803,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.

Canadian Solar Company Profile

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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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