ARRY

Array Technologies Inc

Industrial/Transportation, Energy


Presented:11/14/2023
Price:$15.30
Cap:$2.31B
Current Price:$7.06
Cap:$1.07B

Presented

Date11/14/2023
Price$15.30
Market Cap$2.31B
Ent Value$4.24B
P/E Ratio39.89x
Book Value$1.84
Div Yield0%
Shares O/S151.22M
Ave Daily Vol5,148,283
Short Int14.19%

Current

Price$7.06
Market Cap$1.07B
Array Technologies, Inc. manufactures ground-mounting systems used in solar energy projects. The company sells its products to engineering, procurement and construction firms that build solar energy projects and to large solar developers, independent power producers and utilities, master supply agreements or multi-year procurement contracts. It has offices in Europe, Central America, and Australia. The company's products include DuraTrack and SmarTrack. Array Technologies was founded by Ronald P. Corio in 1989 and is headquartered in Albuquerque, NM.

Publicly traded companies mentioned herein: Array Technologies Inc (ARRY), Flex Ltd (FLEX), NEXTracker Inc (NXT)

Highlights

The presenter is long shares of Array Technologies Inc (ARRY), a US-based manufacturer of tracking systems for utility solar end markets. The stock has meaningfully underperformed its closest comp NXT recently based on the belief that ARRY is losing market share, but the presenter disagrees with that sentiment. He views this as a duopoly within the growing utility solar industry, which has a significant growth runway. Modeling a conservative 2025 EPS of $1.60 and a 10x earnings multiple, he reaches a $16 price target for the core business with an additional $6 – $8 of value per share from 45X manufacturing tax credits, representing substantial upside from the current $15 share price.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.