JinkoSolar (NYSE:JKS) Price Target Lowered to $22.00 at UBS Group

JinkoSolar (NYSE:JKS) had its target price reduced by UBS Group from $25.00 to $22.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the semiconductor company’s stock.

Several other analysts also recently commented on JKS. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Jefferies Financial Group lifted their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $20.12 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm’s 50-day simple moving average is $21.78 and its 200 day simple moving average is $23.13. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 34.10 and a beta of 0.40. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week high of $37.36.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The company had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. As a group, research analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Public Employees Retirement System of Ohio raised its holdings in shares of JinkoSolar by 42.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company’s stock worth $1,229,000 after purchasing an additional 14,765 shares during the period. Twinbeech Capital LP raised its stake in shares of JinkoSolar by 219.9% in the fourth quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after buying an additional 17,846 shares during the period. Millennium Management LLC purchased a new position in shares of JinkoSolar during the 4th quarter valued at $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 3,998 shares during the period. Finally, CoreCommodity Management LLC raised its stake in JinkoSolar by 1.1% in the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock valued at $1,533,000 after acquiring an additional 640 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.