Scotiabank analyst Tristan Richardson maintained a Buy rating on Array Technologies (ARRY – Research Report) today and set a price target of $33.00. The company’s shares closed yesterday at $13.64.
Richardson covers the Energy sector, focusing on stocks such as Kinder Morgan, Williams Co, and Enterprise Products Partners. According to TipRanks, Richardson has an average return of 3.3% and a 52.56% success rate on recommended stocks.
In addition to Scotiabank, Array Technologies also received a Buy from J.P. Morgan’s Mark Strouse in a report issued today. However, on the same day, Barclays maintained a Hold rating on Array Technologies (NASDAQ: ARRY).
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Based on Array Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $350.44 million and a net profit of $23.21 million. In comparison, last year the company earned a revenue of $515.02 million and had a net profit of $40.64 million
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Array Technologies (ARRY) Company Description:
Array Technologies Inc manufacturers of ground-mounting systems used in solar energy projects. The company’s product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in United States, Australia, and Rest of the World with United States deriving majority of the revenue.
Read More on ARRY:
- Array Technologies, Inc. Reports Financial Results for the Fourth Quarter and Full Year 2023; Full year 2023 net income of $86 million; Record full year Adjusted EBITDA of $288 million
- Is ARRY a Buy, Before Earnings?
- Array Technologies (NASDAQ:ARRY): Investors Eye Q4 Earnings as Potential Inflection Point
- Array Technologies and Alupco® Announce Strategic Partnership to Fuel Growing Renewable Energy Market in the Middle East
- Array Technologies, Alupco announce strategic partnership
