Nextracker (NASDAQ:NXT) Price Target Raised to $96.00

Nextracker (NASDAQ:NXT) had its price objective increased by investment analysts at Royal Bank Of Canada from $93.00 to $96.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 9.93% from the company’s previous close.

Several other research analysts have also issued reports on the company. Weiss Ratings upgraded Nextracker from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. Susquehanna lifted their price target on shares of Nextracker from $76.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Guggenheim set a $74.00 target price on shares of Nextracker in a research note on Wednesday, October 22nd. Needham & Company LLC initiated coverage on Nextracker in a research report on Wednesday, October 22nd. They set a “buy” rating and a $102.00 price target for the company. Finally, Mizuho set a $76.00 target price on Nextracker in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.19.

Nextracker Price Performance

Shares of NXT traded down $9.17 on Thursday, reaching $87.33. The company’s stock had a trading volume of 1,704,587 shares, compared to its average volume of 2,488,278. The stock’s 50 day simple moving average is $83.90 and its two-hundred day simple moving average is $67.28. The stock has a market capitalization of $12.96 billion, a P/E ratio of 22.74, a PEG ratio of 2.64 and a beta of 2.31. Nextracker has a 12-month low of $33.29 and a 12-month high of $112.74.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextracker had a return on equity of 35.05% and a net margin of 17.08%.The business had revenue of $905.27 million during the quarter, compared to analyst estimates of $839.53 million. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. Analysts expect that Nextracker will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Howard Wenger sold 5,217 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $75.00, for a total value of $391,275.00. Following the completion of the sale, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles D. Boynton sold 4,500 shares of Nextracker stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the sale, the chief financial officer owned 295,059 shares in the company, valued at approximately $19,830,915.39. This trade represents a 1.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,420 shares of company stock worth $1,092,930 in the last three months. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Nextracker

Several large investors have recently bought and sold shares of NXT. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Nextracker in the third quarter valued at approximately $36,000. Cullen Frost Bankers Inc. grew its position in Nextracker by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after acquiring an additional 324 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nextracker by 703.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after purchasing an additional 577 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Nextracker by 1,737.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares during the period. Finally, MAI Capital Management lifted its stake in Nextracker by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after purchasing an additional 628 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

About Nextracker

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.