First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of First Solar (NASDAQ:FSLR) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $227.00 target price on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Wells Fargo & Company raised First Solar from an equal weight rating to an overweight rating and raised their price objective for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Oppenheimer reiterated an outperform rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday, April 17th. DZ Bank started coverage on shares of First Solar in a research note on Wednesday, April 17th. They set a buy rating and a $205.00 price objective for the company. Finally, Roth Mkm reiterated a buy rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of Moderate Buy and an average price target of $231.36.

First Solar Trading Up 2.2 %

NASDAQ FSLR opened at $180.10 on Tuesday. The stock’s 50 day moving average is $162.27 and its 200 day moving average is $156.68. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $19.28 billion, a PE ratio of 23.27, a P/E/G ratio of 0.30 and a beta of 1.41. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 in the last quarter. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar during the 1st quarter worth approximately $25,000. First Pacific Financial purchased a new stake in shares of First Solar in the third quarter worth $27,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management purchased a new position in shares of First Solar during the 3rd quarter valued at $29,000. Finally, Baystate Wealth Management LLC bought a new position in First Solar in the 4th quarter worth $29,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.