Citigroup Lowers First Solar (NASDAQ:FSLR) Price Target to $236.00

First Solar (NASDAQ:FSLR) had its price objective cut by stock analysts at Citigroup from $254.00 to $236.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the solar cell manufacturer’s stock. Citigroup’s price target points to a potential upside of 60.04% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Barclays cut their price objective on First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, Robert W. Baird lowered their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average target price of $275.63.

First Solar Stock Performance

FSLR stock opened at $147.46 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a 1 year low of $141.76 and a 1 year high of $306.77. The company has a market cap of $15.79 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The stock’s fifty day moving average price is $174.55 and its 200-day moving average price is $199.38.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, equities analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FSLR. Mackenzie Financial Corp raised its stake in shares of First Solar by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after acquiring an additional 738 shares during the period. Amiral Gestion bought a new stake in First Solar in the fourth quarter worth about $529,000. Wormser Freres Gestion boosted its position in shares of First Solar by 54.7% during the fourth quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock valued at $195,000 after buying an additional 378 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of First Solar in the fourth quarter worth approximately $2,129,000. Finally, JT Stratford LLC bought a new stake in shares of First Solar during the 4th quarter worth approximately $370,000. Institutional investors own 92.08% of the company’s stock.

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.