Brokerages Set JinkoSolar Holding Co., Ltd. (NYSE:JKS) Price Target at $24.60

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $24.60.

Several research analysts have recently weighed in on JKS shares. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group lowered their price target on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm reduced their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 647 shares during the period. Barclays PLC lifted its holdings in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of JinkoSolar by 607.7% during the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,476 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of JinkoSolar by 198.1% in the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 5,265 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Stock Down 1.7 %

JKS stock opened at $22.19 on Tuesday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 37.61 and a beta of 0.44. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $38.37. The business has a 50 day moving average price of $23.38 and a two-hundred day moving average price of $22.41. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last issued its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. Analysts anticipate that JinkoSolar will post -0.42 EPS for the current fiscal year.

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.