Nextracker FY2025 EPS Forecast Lifted by Cantor Fitzgerald

Nextracker Inc. (NASDAQ:NXT) – Cantor Fitzgerald upped their FY2025 earnings estimates for shares of Nextracker in a research report issued to clients and investors on Thursday, January 30th. Cantor Fitzgerald analyst D. Soderberg now expects that the company will earn $3.22 per share for the year, up from their prior forecast of $2.42. The consensus estimate for Nextracker’s current full-year earnings is $2.67 per share.

A number of other research firms also recently weighed in on NXT. Bank of America cut their target price on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays upgraded Nextracker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $47.00 to $60.00 in a report on Wednesday, January 29th. Susquehanna lifted their target price on Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Truist Financial reissued a “buy” rating and issued a $56.00 price target (up from $54.00) on shares of Nextracker in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Nextracker Trading Down 0.4 %

Shares of NASDAQ:NXT opened at $50.42 on Monday. The company has a 50 day moving average of $39.69 and a 200-day moving average of $39.04. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. The firm has a market cap of $7.34 billion, a P/E ratio of 12.83 and a beta of 2.04. Nextracker has a twelve month low of $30.93 and a twelve month high of $62.31.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 43.83% and a net margin of 20.12%.

Insider Activity

In other Nextracker news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares of the company’s stock, valued at $9,421,425. This represents a 2.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the completion of the sale, the chief accounting officer now owns 124,577 shares of the company’s stock, valued at $6,216,392.30. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in Nextracker by 23.3% in the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after acquiring an additional 679,272 shares during the period. Secure Asset Management LLC acquired a new stake in shares of Nextracker in the 3rd quarter valued at $1,370,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Nextracker by 33.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock worth $45,983,000 after purchasing an additional 307,956 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Nextracker by 30.7% in the third quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock valued at $2,272,000 after acquiring an additional 14,249 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Nextracker in the fourth quarter valued at about $5,734,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.