Vivint Solar (NYSE:VSLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, January 6th. The brokerage presently has a $4.50 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 21.62% from the stock’s current price.
According to Zacks, “Vivint Solar Inc. is a provider of residential solar energy systems in the United States. It designs, installs, and maintains cost-effective solar energy systems. The Company also offers photovoltaic installation software products and devices. Vivint Solar, Inc. is headquartered in Provo, Utah. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Vivint Solar from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Bank of America began coverage on shares of Vivint Solar in a report on Monday, November 6th. They issued a “buy” rating on the stock. TheStreet raised shares of Vivint Solar from a “d” rating to a “c” rating in a report on Monday, October 2nd. BidaskClub raised shares of Vivint Solar from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Guggenheim began coverage on shares of Vivint Solar in a report on Wednesday, September 27th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Vivint Solar has an average rating of “Hold” and an average price target of $5.10.
Shares of Vivint Solar (NYSE:VSLR) opened at $3.70 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.05 and a current ratio of 1.18. Vivint Solar has a 52-week low of $2.65 and a 52-week high of $6.09. The company has a market cap of $418.88, a PE ratio of 9.49 and a beta of -0.31.
Vivint Solar (NYSE:VSLR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The business had revenue of $75.10 million for the quarter, compared to the consensus estimate of $74.56 million. Vivint Solar had a negative return on equity of 26.04% and a net margin of 18.65%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.36) earnings per share. sell-side analysts anticipate that Vivint Solar will post -1.48 earnings per share for the current fiscal year.
In other Vivint Solar news, CEO David Bywater sold 44,900 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $3.24, for a total value of $145,476.00. Following the transaction, the chief executive officer now directly owns 575,774 shares of the company’s stock, valued at approximately $1,865,507.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Bryan Christiansen sold 60,210 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $3.44, for a total transaction of $207,122.40. Following the completion of the transaction, the chief operating officer now directly owns 272,252 shares in the company, valued at $936,546.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,810 shares of company stock worth $798,623. Insiders own 4.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in VSLR. First Trust Advisors LP raised its holdings in Vivint Solar by 17.0% in the 2nd quarter. First Trust Advisors LP now owns 114,852 shares of the company’s stock valued at $672,000 after acquiring an additional 16,707 shares during the period. Rhumbline Advisers raised its holdings in Vivint Solar by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 28,571 shares of the company’s stock valued at $167,000 after acquiring an additional 2,549 shares during the period. Neuberger Berman Group LLC raised its holdings in Vivint Solar by 31.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 133,935 shares of the company’s stock valued at $784,000 after acquiring an additional 32,000 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Vivint Solar during the 2nd quarter worth approximately $278,000. Finally, Alliancebernstein L.P. grew its position in shares of Vivint Solar by 9.0% during the 2nd quarter. Alliancebernstein L.P. now owns 88,700 shares of the company’s stock worth $519,000 after purchasing an additional 7,300 shares in the last quarter. 92.47% of the stock is currently owned by hedge funds and other institutional investors.
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Vivint Solar Company Profile
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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