JinkoSolar Holding Company Limited (JKS) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of JinkoSolar Holding Company Limited (NYSE:JKS) from a strong sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of JinkoSolar from a strong-buy rating to a buy rating in a report on Monday, October 2nd. Credit Suisse Group downgraded shares of JinkoSolar from an outperform rating to a neutral rating and reduced their target price for the stock from $25.00 to $20.00 in a report on Tuesday, August 22nd. Roth Capital lifted their target price on shares of JinkoSolar from $18.00 to $26.00 and gave the stock a neutral rating in a report on Tuesday, September 26th. Finally, Axiom Securities started coverage on shares of JinkoSolar in a report on Thursday, September 21st. They set a sell rating and a $10.00 target price for the company. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $17.40.
Shares of JinkoSolar (JKS) opened at $24.60 on Thursday. The company has a market cap of $798.12, a PE ratio of 11.13, a P/E/G ratio of -3.19 and a beta of 1.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.76 and a current ratio of 1.02. JinkoSolar has a twelve month low of $13.56 and a twelve month high of $30.50.
JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, September 6th. The semiconductor company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.49). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $998.22 million. JinkoSolar had a return on equity of 7.88% and a net margin of 5.42%. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. analysts forecast that JinkoSolar will post 0.77 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. boosted its holdings in JinkoSolar by 20,995.0% in the 3rd quarter. Advisor Group Inc. now owns 4,219 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 4,199 shares during the period. Quantbot Technologies LP bought a new stake in JinkoSolar in the 3rd quarter valued at about $139,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in JinkoSolar in the 3rd quarter valued at about $162,000. Aperio Group LLC bought a new stake in JinkoSolar in the 2nd quarter valued at about $205,000. Finally, Granite Point Capital Management L.P. bought a new stake in JinkoSolar in the 2nd quarter valued at about $208,000. 23.10% of the stock is owned by hedge funds and other institutional investors.
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JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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