Vivint Solar (NYSE:VSLR) Research Coverage Started at KeyCorp

KeyCorp began coverage on shares of Vivint Solar (NYSE:VSLR) in a research report sent to investors on Monday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $12.00 price objective on the stock.

A number of other equities research analysts have also weighed in on the company. Roth Capital initiated coverage on Vivint Solar in a research note on Monday, May 6th. They issued a buy rating and a $10.00 target price for the company. Citigroup raised Vivint Solar from a neutral rating to a buy rating and boosted their target price for the company from $4.25 to $8.50 in a research note on Tuesday, May 7th. Oppenheimer set a $11.00 target price on Vivint Solar and gave the company a buy rating in a research note on Friday, August 9th. Zacks Investment Research raised Vivint Solar from a sell rating to a hold rating in a research note on Saturday, May 11th. Finally, Bank of America boosted their target price on Vivint Solar from $12.50 to $14.00 and gave the company a buy rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $11.25.

Shares of VSLR stock opened at $8.50 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average price of $8.07 and a two-hundred day moving average price of $6.36. Vivint Solar has a 12-month low of $3.55 and a 12-month high of $9.82. The firm has a market cap of $970.52 million, a P/E ratio of -3.57 and a beta of 0.36.

Vivint Solar (NYSE:VSLR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.17). Vivint Solar had a negative return on equity of 97.07% and a negative net margin of 25.06%. The firm had revenue of $90.80 million for the quarter, compared to the consensus estimate of $91.92 million. During the same period last year, the firm earned ($0.50) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts expect that Vivint Solar will post -2.66 EPS for the current fiscal year.

In related news, CRO Paul S. Dickson sold 4,635 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.76, for a total transaction of $31,332.60. Following the transaction, the executive now owns 198,047 shares in the company, valued at approximately $1,338,797.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Todd R. Pedersen sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $7.60, for a total value of $760,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,955 shares of company stock worth $2,580,648. 4.10% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Vivint Solar by 4.0% during the 4th quarter. BlackRock Inc. now owns 2,085,407 shares of the company’s stock valued at $7,945,000 after purchasing an additional 81,129 shares during the period. Millennium Management LLC purchased a new position in shares of Vivint Solar during the 4th quarter worth approximately $1,104,000. Northern Trust Corp grew its holdings in shares of Vivint Solar by 8.8% during the 4th quarter. Northern Trust Corp now owns 402,180 shares of the company’s stock worth $1,533,000 after acquiring an additional 32,460 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Vivint Solar during the 4th quarter worth approximately $67,000. Finally, Geode Capital Management LLC grew its holdings in shares of Vivint Solar by 45.4% during the 4th quarter. Geode Capital Management LLC now owns 385,239 shares of the company’s stock worth $1,467,000 after acquiring an additional 120,332 shares during the period. Institutional investors own 90.28% of the company’s stock.

About Vivint Solar

Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company also sells photovoltaic installation products, as well as solar renewable energy certificates. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.

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Analyst Recommendations for Vivint Solar (NYSE:VSLR)

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