JinkoSolar (JKS) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a strong-buy rating in a research note released on Thursday morning, Zacks.com reports. The firm currently has $22.00 target price on the semiconductor company’s stock.

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. “

Several other brokerages have also recently issued reports on JKS. ValuEngine raised shares of JinkoSolar from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Roth Capital set a $24.00 price objective on shares of JinkoSolar and gave the company a buy rating in a research note on Monday, May 20th. Finally, Goldman Sachs Group raised shares of JinkoSolar from a neutral rating to a buy rating and set a $20.00 price objective for the company in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $15.33.

Shares of NYSE JKS opened at $18.16 on Thursday. JinkoSolar has a 12-month low of $7.11 and a 12-month high of $21.80. The stock has a market cap of $518.11 million, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 0.32 and a beta of 2.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.71.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.32). JinkoSolar had a net margin of 1.60% and a return on equity of 5.01%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that JinkoSolar will post 2.98 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Discovery Value Fund purchased a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $15,176,000. BlackRock Inc. grew its stake in shares of JinkoSolar by 0.8% in the 3rd quarter. BlackRock Inc. now owns 773,603 shares of the semiconductor company’s stock valued at $8,332,000 after buying an additional 6,066 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of JinkoSolar by 46.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 445,594 shares of the semiconductor company’s stock valued at $4,407,000 after buying an additional 141,005 shares during the period. Vanguard Group Inc grew its stake in shares of JinkoSolar by 22.4% in the 3rd quarter. Vanguard Group Inc now owns 804,267 shares of the semiconductor company’s stock valued at $8,662,000 after buying an additional 147,292 shares during the period. Finally, CENTRAL TRUST Co grew its stake in shares of JinkoSolar by 125.6% in the 1st quarter. CENTRAL TRUST Co now owns 2,497 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 1,390 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Company Profile

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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