JinkoSolar Holding Co. (JKS) Stock Rating Upgraded by Zacks Investment Research
JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 a number of other research reports. Roth Capital lowered shares of JinkoSolar Holding from a “buy” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $30.00 in a research note on Friday, August 5th. Credit Suisse Group AG reiterated an “outperform” rating on shares of JinkoSolar Holding in a research note on Monday, November 14th. Morgan Stanley set a $27.20 target price on shares of JinkoSolar Holding and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, Craig Hallum began coverage on shares of JinkoSolar Holding in a research note on Tuesday, November 8th. They issued a “buy” rating and a $36.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.24.
Shares of JinkoSolar Holding (NYSE:JKS) opened at 13.34 on Thursday. The company has a market capitalization of $420.09 million, a PE ratio of 2.57 and a beta of 2.33. JinkoSolar Holding has a 52 week low of $13.08 and a 52 week 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 announced its quarterly earnings results on Wednesday, November 16th. The company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.76. The business earned $855.30 million during the quarter, compared to analyst estimates of $749.37 million. JinkoSolar Holding had a net margin of 5.28% and a return on equity of 33.72%. JinkoSolar Holding’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. On average, analysts anticipate that JinkoSolar Holding will post $4.80 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock valued at $173,000 after buying an additional 4,806 shares during the last quarter. First Trust Advisors LP raised its position in JinkoSolar Holding by 251.0% in the second quarter. First Trust Advisors LP now owns 78,420 shares of the company’s stock valued at $1,598,000 after buying an additional 56,079 shares during the last quarter. BlackRock Group LTD raised its position in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock valued at $1,617,000 after buying an additional 9,255 shares during the last quarter. Bank of Montreal Can bought a new position in JinkoSolar Holding during the second quarter valued at $132,000. Finally, California Public Employees Retirement System raised its position in JinkoSolar Holding by 39.0% in the second quarter. California Public Employees Retirement System now owns 52,000 shares of the company’s stock valued at $1,060,000 after buying an additional 14,600 shares during the last quarter. Institutional investors 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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