As of close of business last night, Array Technologies Inc’s stock clocked out at $13.64, up 1.79% from its previous closing price of $13.40. In other words, the price has increased by $+0.24 from its previous closing price. On the day, 13535546 shares were traded. ARRY stock price reached its highest trading level at $14.05 during the session, while it also had its lowest trading level at $13.33.
Ratios:
To gain a deeper understanding of ARRY’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 11.85 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.38. For the most recent quarter (mrq), Quick Ratio is recorded 1.62 and its Current Ratio is at 2.15. In the meantime, Its Debt-to-Equity ratio is 1.13 whereas as Long-Term Debt/Eq ratio is at 1.07.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Barclays on January 22, 2024, Downgraded its rating to Equal Weight and sets its target price to $15 from $22 previously.
On January 08, 2024, Wells Fargo Downgraded its rating to Equal Weight which previously was Overweight and also lowered its target price recommendation from $22 to $19.
Piper Sandler Downgraded its Overweight to Neutral on December 19, 2023, whereas the target price for the stock was revised from $26 to $22.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Sep 01 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. The Chief Financial Officer now owns 82,827 shares after completing the transaction at $23.12 per share. On Aug 11, 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 2.06B and an Enterprise Value of 2.92B. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 35.56, and their Forward P/E ratio for the next fiscal year is 8.39. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.80. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.26 while its Price-to-Book (P/B) ratio in mrq is 7.40. Its current Enterprise Value per Revenue stands at 1.79 whereas that against EBITDA is 10.65.
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 15.02, while the 200-Day Moving Average is calculated to be 18.96.
Shares Statistics:
It appears that ARRY traded 5.49M shares on average per day over the past three months and 5.12M shares per day over the past ten days. A total of 150.51M shares are outstanding, with a floating share count of 147.99M. Insiders hold about 2.13% of the company’s shares, while institutions hold 116.68% stake in the company. Shares short for ARRY as of Jan 31, 2024 were 25.96M with a Short Ratio of 4.73, compared to 21.93M on Dec 29, 2023. Therefore, it implies a Short% of Shares Outstanding of 17.17% and a Short% of Float of 19.36%.
Earnings Estimates
As of right now, 20 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.11 for the current quarter, with a high estimate of $0.14 and a low estimate of $0.09, while EPS last year was $0.1. The consensus estimate for the next quarter is $0.23, with high estimates of $0.35 and low estimates of $0.12.
Analysts are recommending an EPS of between $1.06 and $1.01 for the fiscal current year, implying an average EPS of $1.03. EPS for the following year is $1.27, with 21 analysts recommending between $1.7 and $0.79.
Revenue Estimates
In the current quarter, 22 analysts expect revenue to total $314.86M. It ranges from a high estimate of $335M to a low estimate of $290M. As of the current estimate, Array Technologies Inc’s year-ago sales were $402.07M, an estimated decrease of -21.70% from the year-ago figure. For the next quarter, 17 analysts are estimating revenue of $397.12M, an increase of 5.40% over than the figure of -$21.70% in the same quarter last year. There is a high estimate of $480M for the next quarter, whereas the lowest estimate is $300M.
A total of 25 analysts have provided revenue estimates for ARRY’s current fiscal year. The highest revenue estimate was $1.58B, while the lowest revenue estimate was $1.52B, resulting in an average revenue estimate of $1.55B. In the same quarter a year ago, actual revenue was $1.64B, down -5.30% from the average estimate. Based on 25 analysts’ estimates, the company’s revenue will be $1.86B in the next fiscal year. The high estimate is $2.31B and the low estimate is $1.5B. The average revenue growth estimate for next year is up 20.00% from the average revenue estimate for this year.
