The price of Array Technologies Inc (NASDAQ: ARRY) closed at $14.03 in the last session, up 5.33% from day before closing price of $13.32. In other words, the price has increased by $+0.71 from its previous closing price. On the day, 9399219 shares were traded.
Ratios:
We take a closer look at ARRY’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 8.52 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.87. For the most recent quarter (mrq), Quick Ratio is recorded 2.00 and its Current Ratio is at 2.48. In the meantime, Its Debt-to-Equity ratio is 1.16 whereas as Long-Term Debt/Eq ratio is at 1.11.
On February 28, 2024, TD Cowen reiterated its Market Perform rating and also upped its target price recommendation from $22.50 to $16.50.
Exane BNP Paribas Downgraded its Neutral to Underperform on February 28, 2024, while the target price for the stock was maintained at $12.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Sep 01 ’23 when Hottinger Tyson sold 7,500 shares for $25.04 per share. The transaction valued at 187,825 led to the insider holds 69,618 shares of the business.
Patel Nipul M. sold 54,593 shares of ARRY for $1,262,190 on Aug 14 ’23. The Chief Financial Officer now owns 82,827 shares after completing the transaction at $23.12 per share. On Aug 11 ’23, another insider, Hottinger Tyson, who serves as the Chief Legal Officer of the company, sold 8,500 shares for $23.32 each. As a result, the insider received 198,220 and left with 77,118 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ARRY now has a Market Capitalization of 2.02B and an Enterprise Value of 2.85B. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 26.08, and their Forward P/E ratio for the next fiscal year is 9.73. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.75. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.35 while its Price-to-Book (P/B) ratio in mrq is 8.18. Its current Enterprise Value per Revenue stands at 1.81 whereas that against EBITDA is 10.31.
Stock Price History:
Over the past 52 weeks, ARRY has reached a high of $26.64, while it has fallen to a 52-week low of $11.38. The 50-Day Moving Average of the stock is 13.52, while the 200-Day Moving Average is calculated to be 18.08.
Shares Statistics:
According to the various share statistics, ARRY traded on average about 5.69M shares per day over the past 3-months and 6.11M shares per day over the past 10 days. A total of 151.24M shares are outstanding, with a floating share count of 148.06M. Insiders hold about 2.13% of the company’s shares, while institutions hold 116.76% stake in the company. Shares short for ARRY as of Feb 29, 2024 were 25.94M with a Short Ratio of 4.56, compared to 25.96M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 17.15% and a Short% of Float of 19.33%.
Earnings Estimates
The company has 21 analysts who recommend its stock at the moment. On average, analysts expect EPS of -$0.03 for the current quarter, with a high estimate of $0.03 and a low estimate of -$0.08, while EPS last year was $0.25. The consensus estimate for the next quarter is $0.16, with high estimates of $0.27 and low estimates of $0.08.
Analysts are recommending an EPS of between $1.17 and $1 for the fiscal current year, implying an average EPS of $1.07. EPS for the following year is $1.44, with 21 analysts recommending between $2.2 and $1.02.
Revenue Estimates
According to 21 analysts, the current quarter’s revenue is expected to be $171.44M. It ranges from a high estimate of $396M to a low estimate of $135M. As of the current estimate, Array Technologies Inc’s year-ago sales were $376.77M, an estimated decrease of -54.50% from the year-ago figure. For the next quarter, 21 analysts are estimating revenue of $292.18M, a decrease of -42.50% over than the figure of -$54.50% in the same quarter last year. There is a high estimate of $521M for the next quarter, whereas the lowest estimate is $216.5M.
A total of 26 analysts have provided revenue estimates for ARRY’s current fiscal year. The highest revenue estimate was $1.87B, while the lowest revenue estimate was $1.29B, resulting in an average revenue estimate of $1.35B. In the same quarter a year ago, actual revenue was $1.58B, down -14.10% from the average estimate. Based on 25 analysts’ estimates, the company’s revenue will be $1.71B in the next fiscal year. The high estimate is $2.27B and the low estimate is $1.38B. The average revenue growth estimate for next year is up 26.10% from the average revenue estimate for this year.
