Vivint Solar (VSLR) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Vivint Solar (NYSE:VSLR) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $4.50 price objective on the stock.

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. “

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Vivint Solar from a sell rating to a strong sell rating in a report on Friday, December 1st. Guggenheim assumed coverage on shares of Vivint Solar in a report on Wednesday, September 27th. They set a buy rating and a $5.00 price target on the stock. BidaskClub downgraded shares of Vivint Solar from a buy rating to a hold rating in a report on Thursday, September 14th. Bank of America assumed coverage on shares of Vivint Solar in a report on Monday, November 6th. They set a buy rating on the stock. Finally, TheStreet raised shares of Vivint Solar from a d rating to a c rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $5.10.

Vivint Solar (NYSE:VSLR) remained flat at $$4.20 during trading hours on Friday. 172,400 shares of the stock were exchanged, compared to its average volume of 245,400. The firm has a market capitalization of $480.75, a P/E ratio of 11.35 and a beta of -0.32. The company has a current ratio of 1.18, a quick ratio of 1.05 and a debt-to-equity ratio of 1.30. Vivint Solar has a 52-week low of $2.65 and a 52-week high of $6.09.

Vivint Solar (NYSE:VSLR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The company had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $74.56 million. Vivint Solar had a net margin of 18.65% and a negative return on equity of 26.04%. The business’s revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.36) EPS. analysts predict that Vivint Solar will post -1.48 EPS for the current fiscal year.

In other Vivint Solar news, CEO David Bywater sold 44,900 shares of Vivint Solar stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $3.24, for a total transaction of $145,476.00. Following the transaction, the chief executive officer now owns 575,774 shares of the company’s stock, valued at $1,865,507.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alex J. Dunn sold 100,000 shares of Vivint Solar stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $3.43, for a total transaction of $343,000.00. Following the transaction, the director now directly owns 395,649 shares in the company, valued at approximately $1,357,076.07. The disclosure for this sale can be found here. In the last three months, insiders sold 236,810 shares of company stock worth $798,623. 4.50% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in Vivint Solar during the second quarter valued at approximately $278,000. Neuberger Berman Group LLC lifted its holdings in Vivint Solar by 31.4% during the second quarter. Neuberger Berman Group LLC now owns 133,935 shares of the company’s stock valued at $784,000 after purchasing an additional 32,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Vivint Solar by 23.3% during the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the company’s stock valued at $10,200,000 after purchasing an additional 329,748 shares in the last quarter. Virtu KCG Holdings LLC lifted its holdings in Vivint Solar by 456.9% during the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the company’s stock valued at $947,000 after purchasing an additional 132,751 shares in the last quarter. Finally, Quentec Asset Management LLC lifted its holdings in Vivint Solar by 24.5% during the third quarter. Quentec Asset Management LLC now owns 3,964,748 shares of the company’s stock valued at $13,480,000 after purchasing an additional 781,333 shares in the last quarter. 92.47% of the stock is currently owned by institutional investors and hedge funds.

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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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