JinkoSolar (JKS) Given a $24.00 Price Target by Roth Capital Analysts

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Roth Capital set a $24.00 price objective on JinkoSolar (NYSE:JKS) in a research note published on Monday, TipRanks reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on JKS. ValuEngine upgraded shares of JinkoSolar from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Zacks Investment Research upgraded shares of JinkoSolar from a hold rating to a buy rating and set a $18.00 price target on the stock in a research note on Wednesday, February 6th. Finally, Goldman Sachs Group upgraded shares of JinkoSolar from a neutral rating to a buy rating and set a $20.00 price target on the stock in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $15.33.

JKS opened at $19.07 on Monday. JinkoSolar has a fifty-two week low of $7.11 and a fifty-two week high of $21.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.71 and a current ratio of 0.95. The firm has a market cap of $538.08 million, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.59 and a beta of 2.34.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.32). JinkoSolar had a return on equity of 5.01% and a net margin of 1.60%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that JinkoSolar will post 2.97 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of JinkoSolar by 16.7% during the first quarter. Northern Trust Corp now owns 39,769 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 5,684 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of JinkoSolar by 5,868.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,341 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 11,151 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of JinkoSolar by 41.1% during the first quarter. Handelsbanken Fonder AB now owns 333,728 shares of the semiconductor company’s stock valued at $6,007,000 after acquiring an additional 97,192 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of JinkoSolar by 97.3% during the first quarter. Wells Fargo & Company MN now owns 9,274 shares of the semiconductor company’s stock valued at $167,000 after acquiring an additional 4,573 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of JinkoSolar by 3.8% during the first quarter. First Trust Advisors LP now owns 27,780 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 1,018 shares during the period. 29.27% of the stock is owned by institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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