JinkoSolar (NYSE:JKS) Upgraded to Hold by StockNews.com

JinkoSolar (NYSE:JKS) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also commented on JKS. HSBC reissued a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a report on Monday, February 5th. UBS Group decreased their price objective on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. Roth Capital lowered JinkoSolar from a “buy” rating to a “neutral” rating in a report on Thursday, March 21st. Roth Mkm reissued a “neutral” rating and set a $25.00 price objective on shares of JinkoSolar in a report on Tuesday, April 30th. Finally, Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Monday, February 5th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and a consensus price target of $26.60.

JinkoSolar Stock Performance

Shares of JinkoSolar stock opened at $26.18 on Friday. JinkoSolar has a one year low of $21.06 and a one year high of $48.82. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 4.08 and a beta of 0.38. The business has a 50-day simple moving average of $24.91 and a 200 day simple moving average of $28.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.80.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.08 billion. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. On average, research analysts anticipate that JinkoSolar will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 22.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after purchasing an additional 493,976 shares during the period. Invesco Ltd. increased its position in JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after buying an additional 150,262 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of JinkoSolar by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock valued at $47,206,000 after buying an additional 27,438 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of JinkoSolar by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock worth $24,445,000 after acquiring an additional 92,737 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in JinkoSolar by 44.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock worth $19,276,000 after acquiring an additional 195,300 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.