Brokerages Set Nextracker Inc. (NASDAQ:NXT) Target Price at $94.05

Shares of Nextracker Inc. (NASDAQ:NXT) have received a consensus recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $94.0476.

A number of research analysts recently commented on the stock. Mizuho set a $76.00 price target on shares of Nextracker in a report on Monday, October 20th. Guggenheim set a $74.00 price target on Nextracker in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on Nextracker from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Jefferies Financial Group boosted their price objective on shares of Nextracker from $84.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft set a $99.00 target price on Nextracker and gave the stock a “buy” rating in a research report on Friday, October 24th.

Nextracker Trading Down 1.8%

Shares of NXT stock opened at $104.63 on Wednesday. Nextracker has a 12 month low of $33.29 and a 12 month high of $112.74. The stock has a market cap of $15.53 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.61 and a beta of 2.30. The company has a 50 day simple moving average of $81.73 and a two-hundred day simple moving average of $66.17.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Nextracker

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Nextracker in the second quarter valued at approximately $140,772,000. Wellington Management Group LLP increased its holdings in Nextracker by 56.5% in the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock worth $220,722,000 after buying an additional 1,890,445 shares during the period. Encompass Capital Advisors LLC raised its stake in shares of Nextracker by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Nextracker during the second quarter valued at approximately $58,122,000. Finally, Nuveen LLC purchased a new position in shares of Nextracker during the 1st quarter valued at approximately $40,356,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

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.