American Century Companies Inc. Boosts Holdings in Shoals Technologies Group, Inc. $SHLS

Key Points

• American Century Companies Inc. increased its stake in Shoals Technologies Group by 617.2% in the first quarter, now holding approximately 1.2 million shares valued at $4 million.
• Several analysts have adjusted their price targets for Shoals Technologies Group, with Goldman Sachs raising its target from $5.00 to $6.00 and Guggenheim from $6.00 to $8.00, while BNP Paribas Exane downgraded it to $4.00.
• Shoals Technologies Group reported a second-quarter earnings per share of $0.10, surpassing expectations, with a revenue increase of 11.7% compared to the same period last year.

American Century Companies Inc. raised its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 617.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,172 shares of the company's stock after buying an additional 1,037,997 shares during the period. American Century Companies Inc. owned about 0.72% of Shoals Technologies Group worth $4,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Shoals Technologies Group during the 1st quarter worth approximately $44,000. Nuveen LLC purchased a new stake in Shoals Technologies Group during the first quarter worth $3,589,000. Virtu Financial LLC purchased a new stake in Shoals Technologies Group during the first quarter worth $46,000. Invesco Ltd. boosted its holdings in Shoals Technologies Group by 5.8% during the first quarter. Invesco Ltd. now owns 6,791,182 shares of the company's stock worth $22,547,000 after buying an additional 375,271 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in Shoals Technologies Group during the first quarter worth $12,489,000.

Shoals Technologies Group Stock Down 1.2%

SHLS stock traded down $0.08 during midday trading on Monday, reaching $6.51. 2,362,505 shares of the company were exchanged, compared to its average volume of 6,216,846. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $7.13. The stock's 50-day simple moving average is $5.58 and its 200 day simple moving average is $4.56. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 50.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.62.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The business had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

SHLS has been the subject of a number of recent research reports. BNP Paribas Exane cut shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a research report on Thursday, May 15th. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Thursday, August 7th. Barclays raised their price objective on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. UBS Group lowered their price objective on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Citigroup raised their price objective on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.15.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.