Axiom Securities upgraded shares of Trina Solar Ltd. (NYSE:TSL) from a sell rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $15.00 price target on the stock.
A number of other equities research analysts also recently weighed in on TSL. Cowen and Company downgraded Trina Solar from an outperform rating to a market perform rating and dropped their target price for the stock from $11.00 to $7.50 in a report on Friday, July 15th. Zacks Investment Research downgraded Trina Solar from a hold rating to a strong sell rating in a report on Wednesday, July 27th. Roth Capital reissued a neutral rating and set a $10.00 target price (up previously from $8.00) on shares of Trina Solar in a report on Tuesday, August 2nd. Credit Suisse Group AG reissued a hold rating and set a $11.60 target price on shares of Trina Solar in a report on Wednesday, August 3rd. Finally, Morgan Stanley set a $11.60 target price on Trina Solar and gave the stock a hold rating in a report on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $11.39.
Trina Solar (NYSE:TSL) opened at 10.39 on Thursday. Trina Solar has a 52-week low of $6.91 and a 52-week high of $11.35. The firm’s 50-day moving average is $10.41 and its 200-day moving average is $9.27. The firm has a market capitalization of $882.44 million, a P/E ratio of 12.05 and a beta of 1.55.
Trina Solar (NYSE:TSL) last posted its earnings results on Tuesday, August 23rd. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.11. Trina Solar had a return on equity of 11.34% and a net margin of 2.51%. The company earned $961.60 million during the quarter, compared to the consensus estimate of $866.56 million. During the same quarter last year, the firm earned $0.42 earnings per share. The company’s revenue was up 33.0% on a year-over-year basis. On average, equities analysts expect that Trina Solar will post $0.39 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in Trina Solar by 5.6% in the second quarter. Franklin Resources Inc. now owns 14,481,797 shares of the company’s stock worth $112,089,000 after buying an additional 762,930 shares during the period. Impax Asset Management LTD increased its position in Trina Solar by 22.1% in the second quarter. Impax Asset Management LTD now owns 4,842,981 shares of the company’s stock worth $37,487,000 after buying an additional 876,200 shares during the period. Emerald Acquisition Ltd. bought a new position in Trina Solar during the second quarter worth approximately $28,427,000. BlackRock Group LTD increased its position in Trina Solar by 0.4% in the second quarter. BlackRock Group LTD now owns 2,502,972 shares of the company’s stock worth $19,374,000 after buying an additional 11,102 shares during the period. Finally, Guggenheim Capital LLC increased its position in Trina Solar by 23.4% in the second quarter. Guggenheim Capital LLC now owns 1,626,682 shares of the company’s stock worth $12,591,000 after buying an additional 307,982 shares during the period. 61.68% of the stock is owned by institutional investors and hedge funds.
About Trina Solar
Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.
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