Shoals Technologies Group (NASDAQ:SHLS) Stock Price Target Raised at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its price target on Shoals Technologies from $11 to $12 and maintained an “overweight” rating, implying about 31% upside. Analysts overall have a “Moderate Buy” consensus and an average $10.88 target.
• Shoals beat third-quarter expectations, reporting EPS of $0.14 and revenue of $195.3 million; revenue rose 43.8% year over year. The company also raised its full-year outlook.
• Shoals and ARRAY Technologies agreed to a stock-for-stock merger, targeting $2.2 billion–$2.4 billion in combined 2027 revenue and $100 million in annual EBITDA synergies by year three; completion and integration remain risks.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price target boosted by investment analysts at Cantor Fitzgerald from $11.00 to $12.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 31.00% from the company's current price.

Other research analysts have also issued reports about the company. Mizuho cut their price target on Shoals Technologies Group from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, October 16th. Citigroup reaffirmed a "neutral" rating on shares of Shoals Technologies Group in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Shoals Technologies Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Royal Bank Of Canada increased their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Barclays increased their price target on shares of Shoals Technologies Group from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of "Moderate Buy" and a consensus price target of $10.88.

Shoals Technologies Group Trading Up 8.1%

Shoals Technologies Group stock opened at $9.16 on Thursday. Shoals Technologies Group has a 52 week low of $5.43 and a 52 week high of $13.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 2.25. The firm has a market capitalization of $1.54 billion, a PE ratio of 48.21, a PEG ratio of 1.01 and a beta of 1.86. The business's 50-day simple moving average is $7.65 and its 200-day simple moving average is $8.47.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $195.31 million during the quarter, compared to the consensus estimate of $161.78 million. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%. The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 EPS. Equities research analysts forecast that Shoals Technologies Group will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHLS. KBC Group NV acquired a new position in Shoals Technologies Group in the first quarter worth about $30,000. Farther Finance Advisors LLC boosted its holdings in Shoals Technologies Group by 428.6% during the third quarter. Farther Finance Advisors LLC now owns 4,134 shares of the company's stock valued at $33,000 after purchasing an additional 3,352 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Shoals Technologies Group by 194.1% during the third quarter. Parallel Advisors LLC now owns 4,014 shares of the company's stock valued at $33,000 after purchasing an additional 2,649 shares in the last quarter. Sterling Capital Management LLC grew its position in Shoals Technologies Group by 604.6% in the third quarter. Sterling Capital Management LLC now owns 5,482 shares of the company's stock valued at $44,000 after acquiring an additional 4,704 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Shoals Technologies Group by 378.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company's stock worth $50,000 after purchasing an additional 5,983 shares during the last quarter.

Key Stories Impacting Shoals Technologies Group

Here are the key news stories impacting Shoals Technologies Group this week:

• Positive Sentiment: Q3 results beat expectations: Shoals reported EPS of $0.14 versus the $0.12 consensus and revenue of $195.3 million versus roughly $161.8 million expected. Revenue grew 43.8% year over year. The company also reported $39.8 million in adjusted EBITDA and $791.7 million in backlog and awarded orders. Shoals Q3 2026 financial results
• Positive Sentiment: Full-year outlook raised: Alongside its Q3 report, Shoals provided Q4 guidance and raised its full-year outlook, signaling improved expectations for near-term performance. Shoals Q3 2026 financial results
• Positive Sentiment: Merger promises broader platform and synergies: Shoals and ARRAY Technologies agreed to a stock-for-stock combination that would bring together complementary solar infrastructure products. The companies outlined a combined 2027 revenue outlook of $2.2 billion–$2.4 billion and target $100 million in annual incremental EBITDA synergies by the third year. Shoals-ARRAY merger outlook and synergy targets
• Neutral Sentiment: Merger execution remains a consideration: The all-stock transaction still requires completion and integration, so the projected revenue and synergy benefits are targets rather than guaranteed results. Shoals and ARRAY merger announcement

About Shoals Technologies Group

Shoals Technologies Group, Inc develops electrical balance-of-system (EBOS) solutions for solar energy projects. Its products connect, protect, combine and monitor the direct-current electrical output of solar panels before electricity is converted and delivered to the broader power system.

The company's product portfolio includes wire harnesses, junction boxes, inline fuses, disconnects, recombiners, communication and monitoring equipment, and other electrical components used in photovoltaic installations.

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