Zacks Investment Research Downgrades Vivint Solar Inc. (VSLR) to Hold
Vivint Solar Inc. (NYSE:VSLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “
A number of other equities analysts have also recently issued reports on VSLR. Credit Suisse Group AG set a $4.00 target price on Vivint Solar and gave the stock a “hold” rating in a report on Monday, August 8th. Oppenheimer Holdings Inc. upgraded shares of Vivint Solar from a “market perform” rating to an “outperform” rating and set a $7.00 price objective for the company in a research note on Tuesday, August 9th. Deutsche Bank AG restated a “buy” rating and set a $6.00 price objective (down from $7.50) on shares of Vivint Solar in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. upgraded shares of Vivint Solar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $2.50 to $3.50 in a research note on Thursday, October 6th. Finally, JMP Securities assumed coverage on shares of Vivint Solar in a research note on Thursday, September 8th. They set a “market perform” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.41.
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Vivint Solar (NYSE:VSLR) traded down 0.94% during trading on Wednesday, hitting $3.16. The stock had a trading volume of 247,086 shares. The company’s market capitalization is $340.37 million. The stock has a 50 day moving average price of $3.13 and a 200 day moving average price of $3.01. Vivint Solar has a 12-month low of $2.16 and a 12-month high of $12.85.
Vivint Solar (NYSE:VSLR) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.09. Vivint Solar had a negative net margin of 34.83% and a negative return on equity of 36.38%. The business earned $34.90 million during the quarter, compared to analysts’ expectations of $24.98 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 116.6% on a year-over-year basis. Equities research analysts forecast that Vivint Solar will post ($2.04) earnings per share for the current year.
Large investors have recently modified their holdings of the stock. FMR LLC bought a new stake in shares of Vivint Solar during the second quarter valued at about $19,309,000. Quentec Asset Management LLC bought a new stake in shares of Vivint Solar during the second quarter valued at about $6,387,000. Guggenheim Capital LLC increased its stake in shares of Vivint Solar by 10.4% in the second quarter. Guggenheim Capital LLC now owns 2,012,231 shares of the company’s stock valued at $6,177,000 after buying an additional 190,252 shares during the period. Vanguard Group Inc. increased its stake in shares of Vivint Solar by 6.0% in the second quarter. Vanguard Group Inc. now owns 1,551,347 shares of the company’s stock valued at $4,763,000 after buying an additional 87,825 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Vivint Solar by 30.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 655,286 shares of the company’s stock valued at $2,012,000 after buying an additional 152,394 shares during the period. 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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