StockNews.com Downgrades JinkoSolar (NYSE:JKS) to Sell

StockNews.com downgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report issued on Thursday morning.

A number of other analysts also recently weighed in on the stock. HSBC reissued a hold rating and issued a $30.00 price target on shares of JinkoSolar in a report on Monday, February 5th. Roth Mkm reaffirmed a neutral rating and set a $25.00 price objective (down from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. Daiwa Capital Markets downgraded shares of JinkoSolar from an outperform rating to a neutral rating and set a $25.00 price objective for the company. in a report on Monday, February 5th. Roth Capital downgraded shares of JinkoSolar from a buy rating to a neutral rating in a report on Thursday, March 21st. Finally, UBS Group reduced their price objective on shares of JinkoSolar from $31.00 to $30.00 and set a neutral rating for the company in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, JinkoSolar has a consensus rating of Hold and an average price target of $26.60.

JinkoSolar Price Performance

Shares of JinkoSolar stock opened at $24.14 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. JinkoSolar has a fifty-two week low of $21.06 and a fifty-two week high of $50.46. The firm has a fifty day moving average price of $24.99 and a two-hundred day moving average price of $29.09. The company has a market cap of $1.27 billion, a PE ratio of 3.08 and a beta of 0.37.

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

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in JinkoSolar by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 65,392 shares of the semiconductor company’s stock valued at $1,986,000 after acquiring an additional 6,299 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in JinkoSolar by 109.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 1,678 shares in the last quarter. Mackenzie Financial Corp increased its position in JinkoSolar by 22.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after acquiring an additional 493,976 shares in the last quarter. California Public Employees Retirement System increased its position in JinkoSolar by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 73,834 shares of the semiconductor company’s stock valued at $2,242,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Barclays PLC increased its position in JinkoSolar by 732.1% in the 3rd quarter. Barclays PLC now owns 65,956 shares of the semiconductor company’s stock valued at $2,003,000 after acquiring an additional 58,030 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.