Zacks Investment Research Upgrades JA Solar (JASO) to Buy

JA Solar (NASDAQ:JASO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $8.25 target price on the solar energy provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.79% from the company’s current price.

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. 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 analysts have also recently issued reports on the company. BidaskClub cut JA Solar from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Axiom Securities reaffirmed a “sell” rating on shares of JA Solar in a report on Thursday, November 16th. Finally, ValuEngine raised JA Solar from a “buy” rating to a “strong-buy” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. JA Solar has a consensus rating of “Hold” and a consensus target price of $6.81.

JA Solar (NASDAQ JASO) traded down $0.07 during mid-day trading on Tuesday, reaching $7.38. The company’s stock had a trading volume of 1,183,683 shares, compared to its average volume of 626,240. JA Solar has a 1-year low of $4.42 and a 1-year high of $8.48. The company has a quick ratio of 0.70, a current ratio of 1.03 and a debt-to-equity ratio of 0.29. The company has a market cap of $354.51, a P/E ratio of 4.79 and a beta of 1.27.

JA Solar (NASDAQ:JASO) last issued its quarterly earnings data on Wednesday, November 15th. The solar energy provider reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.06). The firm had revenue of $652.60 million for the quarter, compared to analysts’ expectations of $609.78 million. JA Solar had a return on equity of 7.73% and a net margin of 2.84%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. equities analysts predict that JA Solar will post 0.65 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of JASO. Advisors Preferred LLC purchased a new stake in shares of JA Solar during the 3rd quarter worth approximately $101,000. Verition Fund Management LLC purchased a new stake in shares of JA Solar during the 2nd quarter worth approximately $185,000. Cubist Systematic Strategies LLC purchased a new stake in shares of JA Solar during the 3rd quarter worth approximately $194,000. Public Employees Retirement System of Ohio raised its holdings in JA Solar by 10.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,400 shares of the solar energy provider’s stock valued at $244,000 after buying an additional 3,600 shares during the period. Finally, First Trust Advisors LP raised its holdings in JA Solar by 16.5% during the 2nd quarter. First Trust Advisors LP now owns 41,844 shares of the solar energy provider’s stock valued at $266,000 after buying an additional 5,939 shares during the period. 30.87% of the stock is currently owned by institutional investors and hedge funds.

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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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