JinkoSolar (NYSE:JKS) Downgraded by UBS Group to Neutral

Share on StockTwits

JinkoSolar (NYSE:JKS) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, June 17th, Marketbeat.com reports. They currently have a $25.00 price target on the semiconductor company’s stock, up from their prior price target of $22.00. UBS Group’s price objective would suggest a potential upside of 9.79% from the company’s previous close.

A number of other equities analysts have also recently commented on JKS. ValuEngine upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. Roth Capital set a $24.00 target price on JinkoSolar and gave the company a “buy” rating in a report on Monday, May 20th. Finally, Zacks Investment Research upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. JinkoSolar currently has an average rating of “Hold” and an average target price of $18.33.

Shares of NYSE JKS traded up $0.34 during mid-day trading on Monday, reaching $22.77. 496,300 shares of the company’s stock were exchanged, compared to its average volume of 1,020,854. The firm has a market capitalization of $618.82 million, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.36 and a beta of 2.07. 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 has a 52-week low of $7.11 and a 52-week high of $24.84. The stock’s 50-day moving average is $21.07.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, June 28th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). JinkoSolar had a return on equity of 5.42% and a net margin of 1.68%. The business had revenue of $845.90 million for the quarter, compared to analysts’ expectations of $976.85 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts forecast that JinkoSolar will post 2.98 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new position in shares of JinkoSolar in the 1st quarter valued at about $30,000. CENTRAL TRUST Co boosted its stake in shares of JinkoSolar by 125.6% in the 1st quarter. CENTRAL TRUST Co now owns 2,497 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 1,390 shares during the period. Two Sigma Advisers LP purchased a new position in shares of JinkoSolar in the 4th quarter valued at about $157,000. Mackenzie Financial Corp boosted its stake in shares of JinkoSolar by 6.4% in the 4th quarter. Mackenzie Financial Corp now owns 16,330 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 979 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of JinkoSolar in the 1st quarter valued at about $172,000. Institutional investors and hedge funds own 37.61% 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 in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

Further Reading: What is the Gross Domestic Product (GDP)?

Analyst Recommendations for JinkoSolar (NYSE:JKS)

Receive News & Ratings for JinkoSolar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JinkoSolar and related companies with MarketBeat.com's FREE daily email newsletter.