Array Technologies Inc (NASDAQ: ARRY) closed the day trading at $12.65 down -1.25% from the previous closing price of $12.81. In other words, the price has decreased by -$0.16 from its previous closing price. On the day, 4343571 shares were traded.
Ratios:
For a better understanding of ARRY, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.68 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.90. 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:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. 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 1.94B and an Enterprise Value of 2.77B. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 23.52, and their Forward P/E ratio for the next fiscal year is 8.77. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.58. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.21 while its Price-to-Book (P/B) ratio in mrq is 7.38. Its current Enterprise Value per Revenue stands at 1.76 whereas that against EBITDA is 10.03.
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 $12.52. The 50-Day Moving Average of the stock is 14.09, while the 200-Day Moving Average is calculated to be 18.51.
Shares Statistics:
Over the past 3-months, ARRY traded about 6.02M shares per day on average, while over the past 10 days, ARRY traded about 7.7M shares per day. 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 116.75% stake in the company. Shares short for ARRY as of Feb 15, 2024 were 25.34M with a Short Ratio of 4.21, compared to 24.65M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 16.75% and a Short% of Float of 18.89%.
Earnings Estimates
Current recommendations for the stock of the company come from 21 analysts. On average, analysts expect EPS of -$0.03 for the current quarter, with a high estimate of $0.15 and a low estimate of -$0.08, while EPS last year was $0.25. The consensus estimate for the next quarter is $0.17, 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 $1.45, with 21 analysts recommending between $2.2 and $1.02.
Revenue Estimates
21 analysts predict $177.27M in revenue for the current quarter. 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 -53.00% from the year-ago figure. For the next quarter, 21 analysts are estimating revenue of $294.32M, a decrease of -42.00% over than the figure of -$53.00% 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 $2.06B, while the lowest revenue estimate was $1.29B, resulting in an average revenue estimate of $1.38B. In the same quarter a year ago, actual revenue was $1.58B, down -12.40% 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 24.10% from the average revenue estimate for this year.
