Zacks Investment Research Upgrades JinkoSolar (JKS) to “Buy”
JinkoSolar (NYSE:JKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $29.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 22.11% from the stock’s previous close.
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. “
A number of other research firms have also commented on JKS. ValuEngine upgraded JinkoSolar from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group lowered JinkoSolar from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $20.00 in a research report on Tuesday, August 22nd. Axiom Securities initiated coverage on JinkoSolar in a research report on Thursday, September 21st. They set a “sell” rating and a $10.00 price target on the stock. Finally, Roth Capital increased their price target on JinkoSolar from $18.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. JinkoSolar currently has an average rating of “Hold” and a consensus target price of $19.33.
Shares of JinkoSolar (JKS) opened at $23.75 on Wednesday. JinkoSolar has a 12 month low of $13.70 and a 12 month high of $30.50. The firm has a market capitalization of $775.58, a P/E ratio of 21.27, a PEG ratio of 3.26 and a beta of 1.86. The company has a quick ratio of 0.77, a current ratio of 1.02 and a debt-to-equity ratio of 0.20.
JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Thursday, December 7th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). JinkoSolar had a net margin of 4.36% and a return on equity of 3.99%. The company had revenue of $964.80 million during the quarter, compared to the consensus estimate of $849.17 million. During the same quarter in the prior year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts predict that JinkoSolar will post 0.77 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in JinkoSolar by 177.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 613,191 shares of the semiconductor company’s stock worth $10,157,000 after buying an additional 392,524 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in JinkoSolar by 1,601.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 314,700 shares of the semiconductor company’s stock worth $6,546,000 after buying an additional 296,200 shares in the last quarter. J&P China Capital Management CO. Ltd. lifted its holdings in JinkoSolar by 19.2% during the 3rd quarter. J&P China Capital Management CO. Ltd. now owns 1,360,255 shares of the semiconductor company’s stock worth $33,938,000 after buying an additional 219,302 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in JinkoSolar by 103.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 371,300 shares of the semiconductor company’s stock worth $9,264,000 after buying an additional 189,170 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in JinkoSolar during the 3rd quarter worth $4,559,000. Institutional investors and hedge funds own 21.34% of the company’s stock.
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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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