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Shoals Technologies Group (SHLS) Stock Forecast & Price Target

$6.59
-0.04 (-0.60%)
(As of 07/19/2024 ET)

Shoals Technologies Group - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 19 Wall Street analysts who have issued ratings for Shoals Technologies Group in the last 12 months, the stock has a consensus rating of "Hold." Out of the 19 analysts, 3 have given a sell rating, 4 have given a hold rating, and 12 have given a buy rating for SHLS.

Consensus Price Target

$15.06
128.51% Upside
High Forecast$33.00
Average Forecast$15.06
Low Forecast$5.00

According to the 19 analysts' twelve-month price targets for Shoals Technologies Group, the average price target is $15.06. The highest price target for SHLS is $33.00, while the lowest price target for SHLS is $5.00. The average price target represents a forecasted upside of 128.51% from the current price of $6.59.

TypeCurrent Forecast
7/21/23 to 7/20/24
1 Month Ago
6/21/23 to 6/20/24
3 Months Ago
4/22/23 to 4/21/24
1 Year Ago
7/21/22 to 7/21/23
Consensus Rating
Hold
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
12 Buy rating(s)
13 Buy rating(s)
14 Buy rating(s)
8 Buy rating(s)
Hold
4 Hold rating(s)
4 Hold rating(s)
3 Hold rating(s)
4 Hold rating(s)
Sell
3 Sell rating(s)
2 Sell rating(s)
0 Sell rating(s)
1 Sell rating(s)
Consensus Price Target$15.06$17.29$20.94$31.77
Forecasted Upside128.51% Upside51.97% Upside53.33% Upside34.18% Upside
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SHLS Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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SHLS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Shoals Technologies Group Stock vs. The Competition

TypeShoals Technologies GroupOils/Energy CompaniesS&P 500
Consensus Rating Score
2.47
2.57
2.51
Consensus RatingHoldModerate BuyModerate Buy
Predicted Upside128.51% Upside344.38% Upside10.00% Upside
News Sentiment RatingNeutral News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/18/2024UBS Group
4 of 5 stars
 Lower TargetBuy ➝ Buy$20.00 ➝ $12.00+76.73%
7/18/2024Barclays
2 of 5 stars
 Lower TargetEqual Weight ➝ Equal Weight$12.00 ➝ $10.00+43.27%
7/16/2024JPMorgan Chase & Co.
3 of 5 stars
 Boost TargetOverweight ➝ Overweight$21.00 ➝ $23.00+241.25%
7/8/2024Royal Bank of Canada
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 Lower TargetOutperform ➝ Outperform$15.00 ➝ $13.00+117.76%
7/2/2024Citigroup
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V. Bagri
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DowngradeBuy ➝ Sell$15.00 ➝ $5.00-18.17%
5/8/2024Northland Capmk
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D. Schafer
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DowngradeHold ➝ Strong Sell
5/8/2024Cantor Fitzgerald
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 Lower TargetOverweight ➝ Overweight$24.00 ➝ $14.00+89.70%
5/8/2024Piper Sandler
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 Lower TargetOverweight ➝ Overweight$14.00 ➝ $11.00+45.89%
5/8/2024Northland Securities
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 Reiterated RatingMarket Perform ➝ Underperform$12.00 ➝ $6.00-20.21%
5/8/2024Mizuho
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 Lower TargetBuy ➝ Buy$16.00 ➝ $13.00+47.73%
5/8/2024TD Cowen
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 Lower TargetBuy ➝ Buy$15.00 ➝ $11.00+25.00%
5/8/2024Roth Mkm
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 DowngradeBuy ➝ Neutral$15.00 ➝ $8.00-9.09%
5/7/2024Roth Capital
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P. Shen
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DowngradeBuy ➝ Neutral
3/1/2024The Goldman Sachs Group
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 Lower TargetBuy ➝ Buy$26.00 ➝ $23.00+76.25%
2/29/2024Oppenheimer
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 Lower TargetOutperform ➝ Outperform$42.00 ➝ $17.00+28.79%
2/29/2024Truist Financial
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 Reiterated RatingBuy ➝ Buy$23.00 ➝ $20.00+50.49%
1/19/2024Janney Montgomery Scott
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 Initiated CoverageBuy$20.00+49.70%
12/8/2023Morgan Stanley
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 Lower TargetEqual Weight ➝ Equal Weight$21.00 ➝ $17.00+24.91%
10/20/2023BNP Paribas
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 Initiated CoverageOutperform$33.00+117.11%
5/9/2023Guggenheim
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 UpgradeNeutral ➝ Buy$30.00+52.13%
3/6/2023Credit Suisse Group
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 Reiterated RatingOutperform$29.00+13.19%
1/20/2023Cowen
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 Lower TargetOutperform$37.50 ➝ $35.00+31.28%
9/16/2022Cowen
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 UpgradeMarket Perform ➝ Outperform$29.00 ➝ $37.50+51.33%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 07:57 AM ET.

SHLS Forecast - Frequently Asked Questions

What is Shoals Technologies Group's forecast for 2024?

According to the research reports of 19 Wall Street equities research analysts, the average twelve-month stock price forecast for Shoals Technologies Group is $15.06, with a high forecast of $33.00 and a low forecast of $5.00.

Should I buy or sell Shoals Technologies Group stock right now?

19 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Shoals Technologies Group in the last twelve months. There are currently 3 sell ratings, 4 hold ratings and 12 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" SHLS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SHLS, but not buy additional shares or sell existing shares.

Does Shoals Technologies Group's stock price have much upside?

According to analysts, Shoals Technologies Group's stock has a predicted upside of 56.92% based on their 12-month stock forecasts.

Has Shoals Technologies Group been downgraded by Wall Street analysts recently?

Over the previous 90 days, Shoals Technologies Group's stock had 4 downgrades by analysts.

What analysts cover Shoals Technologies Group?

Shoals Technologies Group has been rated by research analysts at Barclays, Cantor Fitzgerald, Citigroup, JPMorgan Chase & Co., Mizuho, Northland Capmk, Northland Securities, Piper Sandler, Roth Capital, Roth Mkm, Royal Bank of Canada, TD Cowen, and UBS Group in the past 90 days.

Do Wall Street analysts like Shoals Technologies Group more than its competitors?

Analysts like Shoals Technologies Group less than other "oils/energy" companies. The consensus rating for Shoals Technologies Group is Hold while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how SHLS compares to other companies.


This page (NASDAQ:SHLS) was last updated on 7/20/2024 by MarketBeat.com Staff

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