Evercore ISI Upgrades First Solar (NASDAQ:FSLR) to Outperform

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

FSLR has been the subject of several other reports. Janney Montgomery Scott initiated coverage on shares of First Solar in a research report on Friday, April 12th. They issued a buy rating and a $236.00 price objective for the company. Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and boosted their price target for the company from $187.00 to $250.00 in a report on Friday, April 19th. DZ Bank initiated coverage on shares of First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 price target for the company. Mizuho boosted their price target on shares of First Solar from $188.00 to $196.00 and gave the company a buy rating in a report on Wednesday, January 3rd. Finally, Susquehanna restated a positive rating and issued a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, First Solar presently has a consensus rating of Moderate Buy and an average target price of $231.36.

First Solar Price Performance

FSLR stock opened at $178.73 on Tuesday. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $163.40 and a 200 day moving average price of $157.20. The stock has a market cap of $19.13 billion, a PE ratio of 23.09, a P/E/G ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar during the first quarter worth approximately $25,000. First Pacific Financial acquired a new stake in First Solar during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the fourth quarter worth approximately $27,000. Estabrook Capital Management acquired a new stake in First Solar during the third quarter worth approximately $29,000. Finally, Baystate Wealth Management LLC acquired a new stake in First Solar during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.