JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
JKS has been the subject of several other research reports. Roth Capital lowered JinkoSolar Holding from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $30.00 in a research report on Friday, August 5th. Credit Suisse Group AG reiterated an “outperform” rating on shares of JinkoSolar Holding in a report on Monday, November 14th. Morgan Stanley set a $27.20 price objective on JinkoSolar Holding and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Craig Hallum initiated coverage on JinkoSolar Holding in a report on Tuesday, November 8th. They issued a “buy” rating and a $36.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.24.
Shares of JinkoSolar Holding (NYSE:JKS) opened at 13.34 on Thursday. The stock has a market capitalization of $420.09 million, a P/E ratio of 2.57 and a beta of 2.33. JinkoSolar Holding has a 12-month low of $13.08 and a 12-month high of $29.50. The firm’s 50-day moving average is $15.85 and its 200 day moving average is $18.72.
JinkoSolar Holding (NYSE:JKS) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.76. The firm earned $855.30 million during the quarter, compared to analyst estimates of $749.37 million. JinkoSolar Holding had a return on equity of 33.72% and a net margin of 5.28%. JinkoSolar Holding’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, equities research analysts forecast that JinkoSolar Holding will post $4.80 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. purchased a new stake in JinkoSolar Holding during the first quarter worth about $1,470,000. BlackRock Inc. increased its stake in JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock worth $173,000 after buying an additional 4,806 shares in the last quarter. BlackRock Group LTD increased its stake in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock worth $1,617,000 after buying an additional 9,255 shares in the last quarter. Guinness Asset Management Ltd increased its stake in JinkoSolar Holding by 13.4% in the second quarter. Guinness Asset Management Ltd now owns 8,490 shares of the company’s stock worth $173,000 after buying an additional 1,000 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in JinkoSolar Holding during the second quarter worth about $132,000. Institutional investors and hedge funds own 19.63% of the company’s stock.
About JinkoSolar Holding
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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