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

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned a consensus recommendation of “Reduce” from the six brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $24.60.

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

Institutional Trading of JinkoSolar

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares in the last quarter. Barclays PLC grew 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 raised its position in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise lifted 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 worth $212,000 after buying an additional 5,265 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted 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 last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Stock Performance

JKS opened at $22.58 on Tuesday. The firm has a 50 day moving average of $23.28 and a two-hundred day moving average of $22.42. The firm has a market capitalization of $1.20 billion, a PE ratio of 38.27 and a beta of 0.44. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. JinkoSolar has a 12-month low of $16.70 and a 12-month high of $38.37.

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