JinkoSolar (JKS) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a research report report published on Wednesday, ValuEngine reports.

Several other research firms have also recently weighed in on JKS. TheStreet upgraded JinkoSolar from a d+ rating to a c rating in a report on Thursday, January 17th. Zacks Investment Research upgraded JinkoSolar from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Wednesday, February 6th. Williams Capital initiated coverage on JinkoSolar in a report on Wednesday, December 19th. They issued a sell rating and a $1.00 price objective for the company. Goldman Sachs Group upgraded JinkoSolar from a neutral rating to a buy rating and set a $20.00 price objective for the company in a report on Monday, February 4th. Finally, Roth Capital upgraded JinkoSolar from a neutral rating to a buy rating and dropped their price objective for the stock from $20.00 to $11.50 in a report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $12.58.

JKS stock traded down $0.91 during trading on Wednesday, hitting $17.66. 342,884 shares of the company traded hands, compared to its average volume of 1,251,189. The stock has a market capitalization of $529.80 million, a PE ratio of 11.62, a P/E/G ratio of 0.66 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 debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.71.

JinkoSolar (NYSE:JKS) last issued 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). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.25 billion. JinkoSolar had a net margin of 1.60% and a return on equity of 5.01%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Analysts anticipate that JinkoSolar will post 2.97 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Discovery Value Fund bought a new position in shares of JinkoSolar in the 4th quarter worth approximately $15,176,000. BlackRock Inc. raised its position in shares of JinkoSolar by 14.5% in the 4th quarter. BlackRock Inc. now owns 886,080 shares of the semiconductor company’s stock worth $8,764,000 after acquiring an additional 112,477 shares in the last quarter. Vanguard Group Inc raised its position in shares of JinkoSolar by 22.4% in the 3rd 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 in the last quarter. Vanguard Group Inc. raised its position in shares of JinkoSolar by 22.4% in the 3rd 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 in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of JinkoSolar by 46.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 445,594 shares of the semiconductor company’s stock worth $4,407,000 after acquiring an additional 141,005 shares in the last quarter. Institutional investors and hedge funds own 31.28% of the company’s stock.

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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Analyst Recommendations for JinkoSolar (NYSE:JKS)

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