Zacks Investment Research upgraded shares of Vivint Solar, Inc. (NYSE:VSLR) from a hold rating to a buy rating in a research report sent to investors on Saturday morning. The brokerage currently has $4.25 target price 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 equities analysts have also recently issued research reports about the stock. Guggenheim initiated coverage on shares of Vivint Solar in a research note on Wednesday, September 27th. They issued a buy rating and a $5.00 price target on the stock. BidaskClub cut shares of Vivint Solar from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Bank of America Corporation initiated coverage on shares of Vivint Solar in a research note on Monday, November 6th. They issued a buy rating on the stock. TheStreet upgraded shares of Vivint Solar from a d rating to a c rating in a research note on Monday, October 2nd. Finally, Deutsche Bank AG cut shares of Vivint Solar from a buy rating to a hold rating and set a $6.00 price target on the stock. in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $5.05.
Vivint Solar (VSLR) traded up $0.05 during trading hours on Friday, hitting $3.85. 158,300 shares of the stock were exchanged, compared to its average volume of 293,015. The company has a current ratio of 1.18, a quick ratio of 1.20 and a debt-to-equity ratio of 1.30. Vivint Solar has a 12-month low of $2.55 and a 12-month high of $6.09.
Vivint Solar (NYSE:VSLR) last released its earnings results on Tuesday, November 7th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). The business had revenue of $75.10 million during the quarter, compared to analysts’ expectations of $74.56 million. Vivint Solar had a negative return on equity of 26.04% and a net margin of 18.65%. The firm’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) earnings per share. analysts forecast that Vivint Solar will post -1.48 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Vivint Solar by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,743,605 shares of the company’s stock valued at $10,200,000 after acquiring an additional 329,748 shares during the period. GCA Investment Management LLC bought a new position in Vivint Solar during the 2nd quarter valued at about $4,556,000. State Street Corp lifted its stake in Vivint Solar by 5.8% during the 2nd quarter. State Street Corp now owns 363,520 shares of the company’s stock valued at $2,127,000 after acquiring an additional 20,027 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Vivint Solar by 235.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the company’s stock worth $564,000 after purchasing an additional 141,329 shares during the period. Finally, Virtu KCG Holdings LLC lifted its stake in shares of Vivint Solar by 456.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the company’s stock worth $947,000 after purchasing an additional 132,751 shares during the period. Institutional investors and hedge funds own 95.12% of the company’s stock.
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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