Cantor Fitzgerald Forecasts Stronger Earnings for Nextracker

Nextracker Inc. (NASDAQ:NXT) – Investment analysts at Cantor Fitzgerald upped their FY2025 earnings per share estimates for shares of Nextracker in a research report issued on Thursday, January 30th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will post earnings of $3.22 per share for the year, up from their prior estimate of $2.42. The consensus estimate for Nextracker’s current full-year earnings is $3.29 per share.

A number of other equities research analysts also recently commented on NXT. JPMorgan Chase & Co. boosted their target price on Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Northland Capmk upgraded Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Citigroup reduced their price target on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $60.00 in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group raised shares of Nextracker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.50.

Nextracker Stock Up 2.4 %

NXT opened at $49.75 on Monday. The company has a market capitalization of $7.24 billion, a PE ratio of 12.66 and a beta of 2.13. The firm has a 50-day simple moving average of $39.85 and a two-hundred day simple moving average of $38.99. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. Nextracker has a 52 week low of $30.93 and a 52 week high of $62.31.

Nextracker (NASDAQ:NXT) last released its earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%.

Institutional Investors Weigh In On Nextracker

Several hedge funds have recently modified their holdings of NXT. AQR Capital Management LLC grew its stake in Nextracker by 20.6% in the second quarter. AQR Capital Management LLC now owns 50,090 shares of the company’s stock valued at $2,348,000 after purchasing an additional 8,547 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Nextracker by 98.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 147,528 shares of the company’s stock worth $6,916,000 after buying an additional 73,119 shares during the last quarter. Creative Planning raised its stake in shares of Nextracker by 23.7% during the 2nd quarter. Creative Planning now owns 30,317 shares of the company’s stock worth $1,421,000 after acquiring an additional 5,810 shares in the last quarter. Truist Financial Corp lifted its position in Nextracker by 67.1% during the second quarter. Truist Financial Corp now owns 11,225 shares of the company’s stock valued at $526,000 after acquiring an additional 4,507 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Nextracker by 48.5% in the second quarter. Cetera Investment Advisers now owns 24,235 shares of the company’s stock valued at $1,136,000 after acquiring an additional 7,910 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextracker

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

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.