Shoals Technologies Group (SHLS) Stock Forecast & Price Target

$5.05

+0.11 (+2.23%)

(As of 10/18/2024 ET)

Shoals Technologies Group - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 21 Analyst Ratings

Sell
3

Hold
7

Buy
11

Based on 21 Wall Street analysts who have issued ratings for Shoals Technologies Group in the last 12 months, the stock has a consensus rating of "Hold." Out of the 21 analysts, 3 have given a sell rating, 7 have given a hold rating, and 11 have given a buy rating for SHLS.

Consensus Price Target

$12.55
148.57% Upside

According to the 21 analysts' twelve-month price targets for Shoals Technologies Group, the average price target is $12.55. The highest price target for SHLS is $46.00, while the lowest price target for SHLS is $4.00. The average price target represents a forecasted upside of 148.57% from the current price of $5.05.

SHLS Analyst Ratings Over Time

Type	Current Forecast 10/21/23 to 10/20/24	1 Month Ago 9/21/23 to 9/20/24	3 Months Ago 7/23/23 to 7/22/24	1 Year Ago 10/21/22 to 10/21/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	11 Buy rating(s)	11 Buy rating(s)	12 Buy rating(s)	11 Buy rating(s)
Hold	7 Hold rating(s)	5 Hold rating(s)	4 Hold rating(s)	2 Hold rating(s)
Sell	3 Sell rating(s)	4 Sell rating(s)	3 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$12.55	$11.06	$15.06	$28.21
Forecasted Upside	148.57% Upside	80.35% Upside	126.79% Upside	86.48% Upside
Consensus Rating	Hold	Hold	Hold	Moderate Buy

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SHLS Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

SHLS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Shoals Technologies Group Stock vs. The Competition

Type	Shoals Technologies Group	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.38	2.63	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	148.57% Upside	37.86% Upside	6.18% Upside
News Sentiment Rating	Positive News See Recent SHLS News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

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Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/17/2024	JPMorgan Chase & Co. 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$14.00 ➝ $12.00	+137.62%
10/14/2024	Wells Fargo & Company 3 of 5 stars	P. Satish Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Equal Weight	$46.00	+766.29%
10/10/2024	Barclays 3 of 5 stars		Reiterated Rating	Equal Weight ➝ Equal Weight	$7.00 ➝ $7.00	+38.61%
10/3/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	V. Bagri Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Sell ➝ Neutral	$5.00 ➝ $5.50	+7.21%
9/17/2024	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight ➝ Overweight	$12.00 ➝ $12.00	+82.37%
9/10/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$8.00 ➝ $10.00	+72.41%
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9/6/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$7.00 ➝ $6.00	+11.32%
9/6/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$10.00 ➝ $8.00	+49.25%
9/6/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$11.00 ➝ $11.00	+102.58%
9/4/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$5.00	-19.74%
8/8/2024	Northland Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Underperform ➝ Underperform	$6.00 ➝ $4.00	-22.78%
8/7/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	P. Shen Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Hold ➝ Strong Sell
8/7/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$12.00 ➝ $9.00	+66.67%
8/7/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$14.00 ➝ $12.00	+118.18%
8/7/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Sutton Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Neutral	$15.00 ➝ $7.00	+27.27%
5/8/2024	Northland Capmk Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Schafer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Hold ➝ Strong Sell
5/8/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$16.00 ➝ $13.00	+47.73%
5/8/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$15.00 ➝ $11.00	+25.00%
3/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$26.00 ➝ $23.00	+76.25%
1/19/2024	Janney Montgomery Scott Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$20.00	+49.70%
12/8/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$21.00 ➝ $17.00	+24.91%
5/9/2023	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$30.00	+52.13%
3/6/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform	$29.00	+13.19%
1/20/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$37.50 ➝ $35.00	+31.28%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 09:11 PM ET.

SHLS Forecast - Frequently Asked Questions

: According to the research reports of 21 Wall Street equities research analysts, the average twelve-month stock price forecast for Shoals Technologies Group is $12.55, with a high forecast of $46.00 and a low forecast of $4.00.
: 21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shoals Technologies Group in the last twelve months. There are currently 3 sell ratings, 7 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" SHLS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SHLS, but not buy additional shares or sell existing shares.
: According to analysts, Shoals Technologies Group's stock has a predicted upside of 148.57% based on their 12-month stock forecasts.
: Over the previous 90 days, Shoals Technologies Group's stock had 2 downgrades and 1 upgrade by analysts.
: Shoals Technologies Group has been rated by research analysts at Barclays, BNP Paribas, Cantor Fitzgerald, Citigroup, Jefferies Financial Group, JPMorgan Chase & Co., Northland Securities, Oppenheimer, Piper Sandler, Roth Capital, Roth Mkm, Royal Bank of Canada, Truist Financial, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Shoals Technologies Group less than other "oils/energy" companies. The consensus rating for Shoals Technologies Group is Hold while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how SHLS compares to other companies.