JA Solar Receives Neutral Rating from Zacks (JASO)
JA Solar (NASDAQ:JASO)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Tuesday, American Banking News.com reports. They currently have a $11.00 price target on the stock. Zacks‘ price target points to a potential upside of 2.80% from the stock’s previous close.
Zacks‘ analyst wrote, “JA Solar Holdings Company is one of the most cost-efficient solar producers with a geographically-diversified customer base and silicon wafer supply agreements that cater to its production. Positive factors include higher shipments, subsidy programs in China, improving operating efficiencies and higher conversion efficiency. On the flip side, given the industry-wide high inventory level, we believe margins will go downhill moving forward. In addition, tepid module demand in Europe, rising competition, wafer dependency, the financial stability of its customers and the oversupply of solar cells may adversely impact performance over the near term. Thus, we prefer to remain on the sidelines for now.”
Separately, analysts at Credit Suisse raised their price target on shares of JA Solar from $6.50 to $7.50 in a research note to investors on Friday, August 30th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.06.
Shares of JA Solar (NASDAQ:JASO) traded down 3.93% during mid-day trading on Tuesday, hitting $10.28. The stock had a trading volume of 4,028,981 shares. JA Solar has a 1-year low of $2.90 and a 1-year high of $11.40. The stock’s 50-day moving average is $8.85 and its 200-day moving average is $7.14. The company’s market cap is $398.0 million.
JA Solar (NASDAQ:JASO) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.54) by $0.04. The company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $250.42 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis.
JA Solar Holdings Co, Ltd. (NASDAQ:JASO) is a manufacturer of high-performance solar cells based in People’s Republic of China.
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