Vivint Solar Inc. (VSLR) Downgraded by Zacks Investment Research to Hold
Vivint Solar Inc. (NYSE:VSLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other research firms have also recently issued reports on VSLR. Goldman Sachs Group Inc. upgraded Vivint Solar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $2.50 to $3.50 in a research report on Thursday, October 6th. JMP Securities initiated coverage on Vivint Solar in a research report on Thursday, September 8th. They set a “market perform” rating and a $9.00 target price for the company. Credit Suisse Group AG set a $4.00 target price on Vivint Solar and gave the stock a “hold” rating in a research report on Monday, August 8th. Deutsche Bank AG reiterated a “buy” rating and set a $6.00 target price (down previously from $7.50) on shares of Vivint Solar in a research report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. upgraded Vivint Solar from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.41.
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Vivint Solar (NYSE:VSLR) traded down 0.2915% during mid-day trading on Wednesday, reaching $3.1807. 36,057 shares of the company traded hands. Vivint Solar has a 12-month low of $2.16 and a 12-month high of $12.85. The stock’s market capitalization is $342.60 million. The company’s 50-day moving average is $3.13 and its 200-day moving average is $3.01.
Vivint Solar (NYSE:VSLR) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.09. Vivint Solar had a negative return on equity of 36.38% and a negative net margin of 34.83%. The firm had revenue of $34.90 million for the quarter, compared to the consensus estimate of $24.98 million. During the same quarter last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 116.6% compared to the same quarter last year. Equities analysts predict that Vivint Solar will post ($2.04) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. bought a new position in shares of Vivint Solar during the second quarter worth approximately $101,000. Teachers Advisors Inc. boosted its position in shares of Vivint Solar by 14.1% in the second quarter. Teachers Advisors Inc. now owns 36,532 shares of the company’s stock worth $112,000 after buying an additional 4,506 shares during the period. Bank of Montreal Can bought a new position in shares of Vivint Solar during the second quarter worth approximately $136,000. California State Teachers Retirement System boosted its position in shares of Vivint Solar by 7.8% in the second quarter. California State Teachers Retirement System now owns 47,662 shares of the company’s stock worth $146,000 after buying an additional 3,442 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new position in shares of Vivint Solar during the second quarter worth approximately $170,000. Institutional investors and hedge funds own 93.23% of the company’s stock.
About Vivint Solar
Vivint Solar, Inc primarily offers distributed solar energy, which is electricity generated by a solar energy system installed at or near customers’ locations to residential customers based on over 20-year contracts. The Company operates through two operating segments: Residential, and commercial and industrial market (C&I).
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