Breaking Down Array Technologies: 12 Analysts Share Their Views
Portfolio Pulse from Benzinga Insights
Array Technologies (NASDAQ:ARRY) has been the subject of diverse analyst opinions, with 12 analysts offering varied views in the last three months. The sentiment has shifted from bullish to indifferent, with no bullish ratings in the last 30 days. The average 12-month price target is now $23.67, down from $29.00, with a high estimate of $31.00 and a low of $15.00. Analysts from firms including Barclays, Wells Fargo, and Goldman Sachs have adjusted their ratings and price targets, generally lowering them. Array Technologies is a manufacturer of solar energy project systems, with a market cap below industry average, a -31.96% revenue decline as of September 30, 2023, but strong net margin and ROE. The company's debt-to-equity ratio is higher than the industry average, indicating potential financial risk.
January 22, 2024 | 6:00 pm
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NEGATIVE IMPACT
Array Technologies has seen a shift from bullish to indifferent sentiment among analysts, with a decrease in the average price target to $23.67. The company's financial health shows a significant revenue decline but strong profitability indicators.
The shift in analyst sentiment from bullish to indifferent and the reduction in the average price target suggest a less optimistic outlook for ARRY in the short term, which could negatively impact the stock price. The company's strong profitability metrics may provide some support, but the significant revenue decline and high debt-to-equity ratio are concerning factors that could outweigh the positives.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100