Northern Trust Corp Increases Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Northern Trust Corp lifted its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 58.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,252 shares of the semiconductor company's stock after buying an additional 31,130 shares during the period. Northern Trust Corp owned approximately 0.16% of JinkoSolar worth $2,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of JKS. CANADA LIFE ASSURANCE Co bought a new stake in JinkoSolar during the 4th quarter valued at $55,000. SBI Securities Co. Ltd. bought a new stake in JinkoSolar during the 4th quarter valued at $119,000. New York State Common Retirement Fund bought a new stake in JinkoSolar during the 4th quarter valued at $132,000. Jump Financial LLC bought a new stake in JinkoSolar during the 4th quarter valued at $200,000. Finally, Cornerstone Investment Partners LLC bought a new stake in JinkoSolar during the 4th quarter valued at $231,000. Institutional investors own 35.82% of the company's stock.

Analysts Set New Price Targets

JKS has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. UBS Group cut their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, Citigroup downgraded shares of JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.19.

JinkoSolar Price Performance

JKS stock traded down $0.11 during mid-day trading on Thursday, hitting $18.26. The company had a trading volume of 127,135 shares, compared to its average volume of 1,047,587. The company has a market capitalization of $937.89 million, a price-to-earnings ratio of 30.94 and a beta of 0.16. JinkoSolar Holding Co., Ltd. has a 12-month low of $13.42 and a 12-month high of $37.36. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $17.69 and a 200 day moving average price of $21.36.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($1.45) by ($1.40). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business's revenue for the quarter was down 39.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. On average, research analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

About JinkoSolar

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.