Jefferies Financial Group Forecasts Strong Price Appreciation for Shoals Technologies Group (NASDAQ:SHLS) Stock

Key Points

• Jefferies Financial Group has raised its price target for Shoals Technologies Group (NASDAQ:SHLS) from $6.00 to $9.00, indicating a potential upside of 25.70% from its previous close.
• The company recently reported an EPS of $0.10 for the quarter, exceeding estimates, and showed a year-over-year revenue growth of 11.7%.
• Shoals Technologies Group has a consensus rating of "Moderate Buy" from 14 investment analysts, with a consensus price target of $9.24.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price objective upped by equities researchers at Jefferies Financial Group from $6.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's target price points to a potential upside of 25.70% from the stock's previous close.

SHLS has been the topic of several other research reports. UBS Group decreased their price target on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a report on Thursday, May 15th. Roth Capital upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, August 7th. Mizuho cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a report on Monday, July 14th. Finally, Barclays raised their price target on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.24.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $7.16 on Monday. The stock's fifty day moving average is $5.74 and its 200-day moving average is $4.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The stock has a market capitalization of $1.20 billion, a PE ratio of 55.08, a PEG ratio of 0.88 and a beta of 1.62. Shoals Technologies Group has a 52 week low of $2.71 and a 52 week high of $7.62.

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, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently modified their holdings of SHLS. Northern Trust Corp raised its position in shares of Shoals Technologies Group by 4.6% during the fourth quarter. Northern Trust Corp now owns 1,776,337 shares of the company's stock worth $9,823,000 after purchasing an additional 77,633 shares during the period. Comerica Bank grew its stake in Shoals Technologies Group by 73.2% in the fourth quarter. Comerica Bank now owns 162,648 shares of the company's stock valued at $899,000 after purchasing an additional 68,725 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Shoals Technologies Group in the fourth quarter valued at approximately $238,000. Ameriprise Financial Inc. grew its stake in Shoals Technologies Group by 45.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock valued at $10,410,000 after purchasing an additional 587,235 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Shoals Technologies Group during the 4th quarter worth approximately $3,107,000.

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.

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