Summary:
- Array Technologies aims to raise $300 million through convertible senior notes.
- Analysts project a 36.73% potential upside for ARRY stock over the next year.
- GuruFocus' GF Value suggests a possible 85.24% price increase from current levels.
Array Technologies Inc. (ARRY, Financial) has announced an expansion of its private offering, bringing it to a total of $300 million in convertible senior notes. These notes carry an interest rate of 2.875% per annum and have a maturity date set for 2031. The company intends to use the proceeds to repay existing debts and support other corporate initiatives, which may be of significant interest to current and prospective investors.
Wall Street Analysts' Projections
Analyzing the one-year price targets set by 21 financial analysts, Array Technologies Inc (ARRY, Financial) emerges with an average target price of $8.71. The projections range from a high estimate of $13.00 to a low estimate of $5.00. Fascinatingly, the average target suggests an upside of 36.73% from its current trading price of $6.37. For more detailed insights, please visit the Array Technologies Inc (ARRY) Forecast page.
Furthermore, the consensus from 24 brokerage firms provides Array Technologies Inc (ARRY, Financial) with an average brokerage recommendation of 2.3, indicating a status of "Outperform." The scale operates from 1 to 5, with 1 representing a Strong Buy recommendation and 5 denoting a Sell rating.
GuruFocus GF Value Analysis
According to GuruFocus' GF Value estimates, the fair value of Array Technologies Inc (ARRY, Financial) in one year is projected to be $11.80. This estimation indicates a potential upside of 85.24% from the current price of $6.37. The GF Value metric reflects GuruFocus' calculation of what the stock should ideally trade at, considering historical trading multiples, past business growth, and predicted future performance. For more comprehensive data, investors are encouraged to explore the Array Technologies Inc (ARRY) Summary page.
