JinkoSolar (JKS) Raised to “Strong-Buy” at Zacks Investment Research

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JinkoSolar (NYSE:JKS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $22.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.36% from the stock’s previous close.

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 research firms have also recently commented on JKS. ValuEngine raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Roth Capital raised JinkoSolar from a “neutral” rating to a “buy” rating and cut their price target for the company from $20.00 to $11.50 in a report on Monday, February 4th. Finally, Goldman Sachs Group raised JinkoSolar from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. JinkoSolar presently has an average rating of “Hold” and a consensus target price of $15.33.

NYSE JKS opened at $19.07 on Thursday. The company has a market capitalization of $538.08 million, a PE ratio of 12.55, a PEG ratio of 0.59 and a beta of 2.34. JinkoSolar has a 1-year low of $7.11 and a 1-year high of $21.80. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31.

JinkoSolar (NYSE:JKS) last released its earnings results on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share 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 firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $0.20 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts predict that JinkoSolar will post 2.97 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of JKS. BlackRock Inc. increased its stake in JinkoSolar by 0.8% during the third quarter. BlackRock Inc. now owns 773,603 shares of the semiconductor company’s stock worth $8,332,000 after acquiring an additional 6,066 shares during the last quarter. Vanguard Group Inc. increased its stake in JinkoSolar by 22.4% during the third quarter. Vanguard Group Inc. now owns 804,267 shares of the semiconductor company’s stock worth $8,662,000 after acquiring an additional 147,292 shares during the last quarter. Vanguard Group Inc increased its stake in JinkoSolar by 22.4% during the third quarter. Vanguard Group Inc now owns 804,267 shares of the semiconductor company’s stock worth $8,662,000 after acquiring an additional 147,292 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its stake in JinkoSolar by 10.8% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 29,800 shares of the semiconductor company’s stock worth $295,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in JinkoSolar during the fourth quarter worth $57,000. 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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