CIBC slashes price target on JinkoSolar Holding Co. Ltd. [JKS] – find out why.


JinkoSolar Holding Co. Ltd. [NYSE: JKS] jumped around 8.85 points on Thursday, while shares priced at $74.40 at the close of the session, up 13.50%. The company report on July 6, 2022 that JinkoSolar Announces up to US$200 Million Share Repurchase Program.

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JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its board of directors (“Board”) has approved a share repurchase program, which authorizes the Company to repurchase up to US$200 million of its ordinary shares represented by American depositary shares (“ADSs”) during an 18-month period.

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices in open-market transactions, privately negotiated transactions or block trades, and/or through other legally permissible means, depending on market conditions and in accordance with the applicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements under Rule 10b-18 and Rule 10b5-1 of the Exchange Act, as well as JinkoSolar’s insider trading policy. JinkoSolar plans to use its existing funds to fund repurchases made under the share repurchase program.

JinkoSolar Holding Co. Ltd. stock is now 61.88% up from its year-to-date (YTD) trading value. JKS Stock saw the intraday high of $75.15 and lowest of $66.40 per share. The company’s 52-week high price is 70.75, which means current price is +110.11% above from all time high which was touched on 07/07/22.

Compared to the average trading volume of 1.24M shares, JKS reached a trading volume of 3212871 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about JinkoSolar Holding Co. Ltd. [JKS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JKS shares is $52.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JKS stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CIBC have made an estimate for JinkoSolar Holding Co. Ltd. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on December 02, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for JinkoSolar Holding Co. Ltd. stock. Previously, the target price had yet another raise to $41, while UBS analysts kept a Neutral rating on JKS stock.

The Average True Range (ATR) for JinkoSolar Holding Co. Ltd. is set at 4.59, with the Price to Sales ratio for JKS stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 45.10.

How has JKS stock performed recently?

JinkoSolar Holding Co. Ltd. [JKS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.83. With this latest performance, JKS shares gained by 10.88% in over the last four-week period, additionally plugging by 61.07% over the last 6 months – not to mention a rise of 23.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JKS stock in for the last two-week period is set at 65.96, with the RSI for the last a single of trading hit 69.15, and the three-weeks RSI is set at 63.62 for JinkoSolar Holding Co. Ltd. [JKS]. The present Moving Average for the last 50 days of trading for this stock 58.45, while it was recorded at 68.89 for the last single week of trading, and 51.33 for the last 200 days.

JinkoSolar Holding Co. Ltd. [JKS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and JinkoSolar Holding Co. Ltd. [JKS] shares currently have an operating margin of +3.37 and a Gross Margin at +16.31. JinkoSolar Holding Co. Ltd.’s Net Margin is presently recorded at +1.77.

Return on Equity for this stock inclined to 6.86, with Return on Assets sitting at 1.14.

JinkoSolar Holding Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

Earnings analysis for JinkoSolar Holding Co. Ltd. [JKS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JKS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for JinkoSolar Holding Co. Ltd. go to 29.07%.

Insider trade positions for JinkoSolar Holding Co. Ltd. [JKS]

There are presently around $1,769 million, or 56.80% of JKS stock, in the hands of institutional investors. The top three institutional holders of JKS stocks are: SCHRODER INVESTMENT MANAGEMENT GROUP with ownership of 5,409,981, which is approximately 0.832% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 2,632,512 shares of the stock with an approximate value of $195.86 million in JKS stocks shares; and INVESCO LTD., currently with $165.06 million in JKS stock with ownership of nearly -1.271% of the company’s market capitalization.

Positions in JinkoSolar Holding Co. Ltd. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 70 institutional holders increased their position in JinkoSolar Holding Co. Ltd. [NYSE:JKS] by around 2,256,038 shares. Additionally, 55 investors decreased positions by around 1,724,018 shares, while 29 investors held positions by with 19,801,104 shares. The mentioned changes placed institutional holdings at 23,781,160 shares, according to the latest SEC report filing. JKS stock had 29 new institutional investments in for a total of 1,059,325 shares, while 16 institutional investors sold positions of 505,751 shares during the same period.