Axiom Securities Upgrades JA Solar Holdings Co. (JASO) to Buy
JA Solar Holdings Co. (NASDAQ:JASO) was upgraded by equities research analysts at Axiom Securities from a “sell” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $10.00 price objective on the stock. Axiom Securities’ target price would indicate a potential upside of 49.70% from the company’s current price.
Separately, Credit Suisse Group AG set a $9.70 price target on JA Solar Holdings and gave the company a “hold” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. JA Solar Holdings presently has a consensus rating of “Hold” and a consensus target price of $9.62.
Shares of JA Solar Holdings (NASDAQ:JASO) opened at 6.68 on Thursday. JA Solar Holdings has a 52 week low of $5.66 and a 52 week high of $10.09. The firm has a market cap of $313.01 million, a PE ratio of 3.31 and a beta of 2.05. The stock’s 50 day moving average is $6.71 and its 200-day moving average is $7.51.
JA Solar Holdings (NASDAQ:JASO) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.38. The business earned $619 million during the quarter. JA Solar Holdings had a net margin of 4.85% and a return on equity of 11.39%. During the same period last year, the business earned $0.27 earnings per share. On average, equities analysts predict that JA Solar Holdings will post $0.82 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Boothbay Fund Management LLC acquired a new stake in shares of JA Solar Holdings during the first quarter worth $102,000. Bank of Montreal Can acquired a new position in JA Solar Holdings during the second quarter worth approximately $109,000. Jane Street Group LLC raised its position in JA Solar Holdings by 55.6% in the second quarter. Jane Street Group LLC now owns 18,873 shares of the company’s stock worth $129,000 after buying an additional 6,746 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in JA Solar Holdings by 96.1% in the second quarter. Public Employees Retirement System of Ohio now owns 20,200 shares of the company’s stock worth $138,000 after buying an additional 9,900 shares in the last quarter. Finally, Royal Bank of Canada raised its position in JA Solar Holdings by 5,505.3% in the first quarter. Royal Bank of Canada now owns 16,816 shares of the company’s stock worth $146,000 after buying an additional 16,516 shares in the last quarter. 31.65% of the stock is currently owned by institutional investors and hedge funds.
JA Solar Holdings Company Profile
JA Solar Holdings Co, Ltd. is a holding company. The Company designs, develops, manufactures and sells solar power products that convert sunlight into electricity for a range of uses. The Company is engaged in manufacturing and selling solar modules, as well as silicon wafer manufacturing. The Company operates through two segments, including manufacturing and solar projects.
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