The Goldman Sachs Group Lowers JinkoSolar (NYSE:JKS) Price Target to $18.00

JinkoSolar (NYSE:JKS) had its price objective cut by The Goldman Sachs Group from $20.00 to $18.00 in a report published on Thursday,Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.

JKS has been the subject of several other research reports. Jefferies Financial Group upped their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. UBS Group decreased their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Three equities 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 company. Based on data from MarketBeat, JinkoSolar has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Price Performance

JKS opened at $20.12 on Thursday. The company has a fifty day moving average price of $21.78 and a two-hundred day moving average price of $23.13. The firm has a market capitalization of $1.07 billion, a PE ratio of 34.10 and a beta of 0.40. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

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

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of JinkoSolar in the third quarter valued at approximately $682,000. State Street Corp lifted its position in shares of JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in JinkoSolar during the third quarter worth $928,000. Finally, Barclays PLC grew its position in JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 35.82% 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. 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.