JA Solar (JASO) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of JA Solar (NASDAQ:JASO) from a hold rating to a buy rating in a report published on Monday morning. They currently have $8.25 price target on the solar energy provider’s stock.
According to Zacks, “JA Solar stands to gain from its geographically advantageous position in spite of trade war between China and the United States. The company's focus on widening its geographical customer base has also resulted in incremental international sales. In fact, the company’s shift in focus to solar modules from cells is paying off. Moreover, Trump's walk out from the Paris Climate agreement is anticipated to boost JA Solar's scope in the near term. So far this year, the company's share price outperformed the broader industry. However, headwinds like anti-dumping policies by the United States and stiff competition in China might be a serious threat to its profit.”
Several other research analysts also recently commented on the company. Credit Suisse Group set a $7.00 price target on JA Solar and gave the stock a hold rating in a research report on Tuesday, August 29th. ValuEngine raised JA Solar from a buy rating to a strong-buy rating in a research report on Monday, September 11th. Axiom Securities reaffirmed a sell rating on shares of JA Solar in a research report on Thursday, November 16th. BidaskClub cut JA Solar from a hold rating to a sell rating in a research report on Wednesday, December 6th. Finally, Roth Capital set a $7.00 price objective on JA Solar and gave the company a hold rating in a research report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $6.81.
JA Solar (NASDAQ:JASO) last issued its quarterly earnings results on Wednesday, November 15th. The solar energy provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.06). The business had revenue of $652.60 million during the quarter, compared to the consensus estimate of $609.78 million. JA Solar had a return on equity of 7.73% and a net margin of 2.84%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. equities analysts anticipate that JA Solar will post 0.65 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JASO. Bank of America Corp DE increased its position in shares of JA Solar by 10.5% during the first quarter. Bank of America Corp DE now owns 36,557 shares of the solar energy provider’s stock valued at $239,000 after purchasing an additional 3,465 shares during the period. Bank of Montreal Can bought a new stake in shares of JA Solar during the second quarter valued at approximately $325,000. First Trust Advisors LP increased its position in shares of JA Solar by 16.5% during the second quarter. First Trust Advisors LP now owns 41,844 shares of the solar energy provider’s stock valued at $266,000 after purchasing an additional 5,939 shares during the period. AJO LP increased its position in shares of JA Solar by 3.2% during the second quarter. AJO LP now owns 359,410 shares of the solar energy provider’s stock valued at $2,282,000 after purchasing an additional 11,292 shares during the period. Finally, Teachers Advisors LLC bought a new stake in shares of JA Solar during the second quarter valued at approximately $1,162,000. Institutional investors and hedge funds own 30.87% of the company’s stock.
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About JA Solar
JA Solar Holdings Co, Ltd. is a holding company. The Company designs, develops, manufactures and sells solar power products that convert sunlight into electricity for a range of uses. The Company is engaged in manufacturing and selling solar modules, as well as silicon wafer manufacturing. The Company operates through two segments, including manufacturing and solar projects.
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