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 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. “
VSLR has been the subject of a number of other research reports. JMP Securities initiated coverage on shares of 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. Goldman Sachs Group Inc. raised shares of Vivint Solar from a “sell” rating to a “neutral” rating and increased their target price for the company from $2.50 to $3.50 in a research report on Thursday, October 6th. Deutsche Bank AG reissued 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. Oppenheimer Holdings Inc. raised shares of 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. Finally, Credit Suisse Group AG set a $4.00 price objective on shares of Vivint Solar and gave the stock a “hold” rating in a research report on Monday, August 8th. 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. Vivint Solar has a consensus rating of “Hold” and a consensus target price of $5.41.
Vivint Solar (NYSE:VSLR) traded down 0.2915% during trading on Wednesday, hitting $3.1807. 36,057 shares of the stock were exchanged. The firm has a 50-day moving average of $3.13 and a 200-day moving average of $3.01. Vivint Solar has a 52 week low of $2.16 and a 52 week high of $12.85. The stock’s market capitalization is $342.60 million.
Vivint Solar (NYSE:VSLR) last released its earnings results on Monday, August 8th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.09. The business earned $34.90 million during the quarter, compared to the consensus estimate of $24.98 million. Vivint Solar had a negative net margin of 34.83% and a negative return on equity of 36.38%. The company’s revenue for the quarter was up 116.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities research analysts anticipate that Vivint Solar will post ($2.04) earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of VSLR. Panagora Asset Management Inc. acquired a new stake in Vivint Solar during the second quarter valued at about $101,000. Teachers Advisors Inc. increased its stake in Vivint Solar by 14.1% in the second quarter. Teachers Advisors Inc. now owns 36,532 shares of the company’s stock valued at $112,000 after buying an additional 4,506 shares during the last quarter. Bank of Montreal Can acquired a new stake in Vivint Solar during the second quarter valued at about $136,000. California State Teachers Retirement System increased its stake in Vivint Solar by 7.8% in the second quarter. California State Teachers Retirement System now owns 47,662 shares of the company’s stock valued at $146,000 after buying an additional 3,442 shares during the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new stake in Vivint Solar during the second quarter valued at about $170,000. 93.23% of the stock is owned by institutional investors and hedge funds.
Vivint Solar Company Profile
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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