Array Technologies (ARRY) Stock Forecast, Price & News

15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Array Technologies in the last year. There are currently 1 sell rating, 1 hold rating and 13 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" ARRY shares.
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15 brokers have issued 12-month price targets for Array Technologies' shares. Their ARRY share price forecasts range from $18.00 to $38.00. On average, they anticipate the company's share price to reach $29.36 in the next twelve months. This suggests a possible upside of 36.4% from the stock's current price.
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Array Technologies' stock was trading at $19.33 at the start of the year. Since then, ARRY stock has increased by 11.4% and is now trading at $21.53.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
View our ARRY earnings forecast.

Array Technologies, Inc. (NASDAQ:ARRY) posted its quarterly earnings results on Tuesday, August, 8th. The solar tracking solution reported $0.41 EPS for the quarter, beating the consensus estimate of $0.17 by $0.24. The solar tracking solution had revenue of $507.73 million for the quarter, compared to the consensus estimate of $445.84 million. Array Technologies had a net margin of 7.02% and a trailing twelve-month return on equity of 103.27%.

ETFs with the largest weight of Array Technologies (NASDAQ:ARRY) stock in their portfolio include Invesco Solar ETF (TAN), First Trust RBA American Industrial Renaissance ETF (AIRR), Aztlan Global Stock Selection DM SMID ETF (AZTD), Global X Clean Tech ETF (CTEC), ProShares S&P Kensho Cleantech ETF (CTEX), ALPS Clean Energy ETF (ACES), SPDR Kensho Clean Power ETF (CNRG) and Fidelity Clean Energy ETF (FRNW).

Array Technologies updated its FY 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share (EPS) guidance of $1.00-$1.07 for the period, compared to the consensus earnings per share estimate of $0.87. The company issued revenue guidance of $1.65 billion-$1.73 billion, compared to the consensus revenue estimate of $1.85 billion.

Based on aggregate information from My MarketBeat watchlists, some companies that other Array Technologies investors own include Puma Biotechnology (PBYI), BioMarin Pharmaceutical (BMRN), (MDVN) (MDVN), Incyte (INCY), First Solar (FSLR), Dynavax Technologies (DVAX), United Airlines (UAL), Exelixis (EXEL), (KITE) (KITE) and Omeros (OMER).

(ARRY) raised $676 million in an IPO on Thursday, October 15th 2020. The company issued 33,800,000 shares at a price of $19.00-$21.00 per share. Goldman Sachs, JPMorgan Securities, Guggenheim Securities and Morgan Stanley served as the underwriters for the IPO and Credit Suisse, Barclays and UBS Investment Bank were co-managers.

Array Technologies trades on the NASDAQ under the ticker symbol "ARRY."

Shares of ARRY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ARRY stock can currently be purchased for approximately $21.53.

Array Technologies (NASDAQ:ARRY) has a market capitalization of $3.25 billion and generates $1.64 billion in revenue each year. The solar tracking solution earns $4.43 million in net income (profit) each year or $0.51 on an earnings per share basis.

The company employs 1,082 workers across the globe.

Array Technologies' mailing address is 3901 Midway Place NE Albuquerque, NM 87109. The official website for the company is arraytechinc.com. The solar tracking solution can be reached via phone at 505-881-7567 or via email at investors@arraytechinc.com.