Zacks Investment Research upgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $26.00 target price on the semiconductor company’s stock.

According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “

Several other research analysts have also recently issued reports on JKS. UBS Group cut JinkoSolar from a buy rating to a neutral rating and raised their price objective for the stock from $22.00 to $25.00 in a research note on Monday, June 17th. ValuEngine cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, May 28th. Roth Capital set a $24.00 price objective on JinkoSolar and gave the stock a buy rating in a research note on Monday, May 20th. Finally, Credit Suisse Group restated a sell rating and issued a $6.00 price objective on shares of Deutsche Bank in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $19.00.

Shares of NYSE:JKS opened at $20.09 on Tuesday. JinkoSolar has a 52-week low of $7.11 and a 52-week high of $24.84. The stock has a market capitalization of $570.32 million, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.36 and a beta of 2.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.71 and a current ratio of 0.94. The business has a 50-day moving average price of $21.90.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, June 28th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). JinkoSolar had a return on equity of 5.35% and a net margin of 1.68%. The firm had revenue of $845.90 million during the quarter, compared to analysts’ expectations of $976.85 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts expect that JinkoSolar will post 2.79 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Hanson & Doremus Investment Management acquired a new stake in JinkoSolar in the first quarter valued at approximately $30,000. CENTRAL TRUST Co grew its holdings in JinkoSolar by 125.6% in the first quarter. CENTRAL TRUST Co now owns 2,497 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 1,390 shares during the period. SG Americas Securities LLC acquired a new stake in JinkoSolar in the first quarter valued at approximately $172,000. Northwestern Mutual Wealth Management Co. grew its holdings in JinkoSolar by 5,868.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,341 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 11,151 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $157,000. Institutional investors own 37.61% of the company’s stock.

About JinkoSolar

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.

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