JinkoSolar (NYSE:JKS) upgraded to “Hold” by Zacks Investment Research

JinkoSolar (NYSE:JKS – Get a rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report released Wednesday to clients and investors, Zacks.com reports.

According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar products manufacturer with operations based in Jiangxi and Zhejiang provinces of China. JinkoSolar has built a vertically integrated solar product value chain, from reclaimed silicon materials to solar modules. JinkoSolar’s main products are silicon wafers, solar cells and solar modules which are found throughout the photovoltaic value chain, with a global network spanning Europe, North America and Asia. “

Several other stock analysts also commented on JKS. StockNews.com supported coverage of JinkoSolar in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. UBS Group raised its price target on JinkoSolar from $44.00 to $52.00 and gave the company a “neutral” rating in a Thursday, March 24 research report. Finally, Roth Capital reiterated a “neutral” rating on JinkoSolar shares in a Monday, May 2 research report. One research analyst rated the stock with a sell rating, four assigned a hold rating and three assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.42.

Shares of JinkoSolar opened Wednesday at $66.78. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt ratio of 0.51. The company has a market capitalization of $3.26 billion, a PE ratio of 75.89 and a beta of 0.87. The company’s 50-day moving average price is $54.03 and its 200-day moving average price is $49.18. JinkoSolar has a 12-month low of $35.41 and a 12-month high of $68.85.

JinkoSolar (NYSE:JKS – Get Rating) last reported quarterly earnings data on Thursday, April 28. The semiconductor company reported EPS of $0.10 for the quarter, missing the consensus estimate of $0.17 per ($0.07). The company posted revenue of $2.33 billion for the quarter, versus a consensus estimate of $1.96 billion. JinkoSolar had a net margin of 1.11% and a return on equity of 3.22%. As a group, analysts predict JinkoSolar will post earnings per share of 2.79 for the current fiscal year.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in JinkoSolar shares by 340.0% in Q4. Northwestern Mutual Wealth Management Co. now owns 550 shares of the semiconductor company valued at $26,000 after purchasing an additional 425 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of JinkoSolar in Q4, valued at around $27,000. AXA SA bought a new position in shares of JinkoSolar in the 3rd quarter for a value of approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stock position in JinkoSolar in Q1 for a value of approximately $64,000. Finally, National Bank of Canada FI bought a new stock position in JinkoSolar in Q4 worth approximately $67,000. Institutional investors and hedge funds hold 62.74% of the company’s shares.

JinkoSolar Company Profile (Get a rating)

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production and marketing of photovoltaic products. The Company offers solar modules, silicon wafers, solar cells, reclaimed silicon materials and silicon ingots. It also provides solar system integration services; and develops commercial solar energy projects.

Further reading

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