JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Rating of “Reduce” by Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $26.60.

A number of equities research analysts have weighed in on JKS shares. The Goldman Sachs Group lowered their price objective on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday. HSBC reaffirmed a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a research report on Monday, February 5th. Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Monday, February 5th. Roth Mkm reaffirmed a “neutral” rating and issued a $25.00 price target (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. Finally, UBS Group dropped their price target on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Toroso Investments LLC acquired a new stake in shares of JinkoSolar during the third quarter worth approximately $35,000. FMR LLC increased its stake in shares of JinkoSolar by 657.5% in the third quarter. FMR LLC now owns 909 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 789 shares during the last quarter. Natixis purchased a new stake in shares of JinkoSolar during the fourth quarter worth $41,000. Signaturefd LLC boosted its position in JinkoSolar by 202.1% during the fourth quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in JinkoSolar in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Trading Down 4.0 %

JinkoSolar stock opened at $23.02 on Monday. The stock has a market cap of $1.21 billion, a PE ratio of 2.93 and a beta of 0.37. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. JinkoSolar has a 52 week low of $22.06 and a 52 week high of $51.35. The stock has a 50-day moving average price of $25.70 and a 200 day moving average price of $29.57.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing the consensus estimate of $2.32 by ($1.11). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. Equities research analysts predict that JinkoSolar will post 5.27 earnings per share for the current fiscal year.

About JinkoSolar

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, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects.