Robert W. Baird Cuts First Solar (NASDAQ:FSLR) Price Target to $267.00

First Solar (NASDAQ:FSLR - Get Free Report) had its price target cut by stock analysts at Robert W. Baird from $307.00 to $267.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the solar cell manufacturer's stock. Robert W. Baird's target price indicates a potential upside of 44.90% from the company's current price.

FSLR has been the subject of several other reports. Mizuho reduced their price target on First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Citigroup raised First Solar from a "neutral" rating to a "buy" rating and increased their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Janney Montgomery Scott raised shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 target price for the company in a research note on Tuesday, October 29th. Morgan Stanley dropped their price target on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.04.

First Solar Stock Down 2.1 %

NASDAQ FSLR traded down $4.00 during trading on Wednesday, hitting $184.27. The stock had a trading volume of 2,142,975 shares, compared to its average volume of 2,502,927. The company has a market capitalization of $19.73 billion, a PE ratio of 15.87, a P/E/G ratio of 0.35 and a beta of 1.46. First Solar has a 12 month low of $135.88 and a 12 month high of $306.77. The company's 50-day moving average price is $198.01 and its two-hundred day moving average price is $221.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 EPS. As a group, sell-side analysts forecast that First Solar will post 13.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FSLR. Electron Capital Partners LLC boosted its stake in shares of First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the period. State Street Corp grew its holdings in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock worth $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer's stock worth $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer's stock valued at $434,977,000 after purchasing an additional 15,890 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

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.