Vivint Solar Inc. (VSLR) Rating Increased to Buy at Zacks Investment Research
Vivint Solar Inc. (NYSE:VSLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $3.25 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.07% from the stock’s current price.
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 commented on VSLR. JMP Securities cut Vivint Solar from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Bank of America Corp. set a $2.00 price objective on Vivint Solar and gave the stock a “sell” rating in a research note on Wednesday. Credit Suisse Group AG set a $4.00 price objective on Vivint Solar and gave the stock a “hold” rating in a research note on Monday, August 8th. Deutsche Bank AG reaffirmed 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. Finally, Oppenheimer Holdings Inc. raised 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Vivint Solar currently has an average rating of “Hold” and a consensus price target of $5.34.
Shares of Vivint Solar (NYSE:VSLR) opened at 2.90 on Friday. The stock’s market capitalization is $315.21 million. The company has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.04. Vivint Solar has a 52 week low of $2.16 and a 52 week high of $10.60.
Vivint Solar (NYSE:VSLR) last released its earnings results on Tuesday, November 8th. The company reported ($0.36) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.10. The company earned $41.26 million during the quarter, compared to analysts’ expectations of $43.48 million. Vivint Solar had a negative return on equity of 33.88% and a negative net margin of 14.02%. The business’s revenue for the quarter was up 83.6% on a year-over-year basis. During the same period last year, the firm earned ($0.47) EPS. Analysts forecast that Vivint Solar will post ($2.03) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its position in Vivint Solar by 6,190.2% in the third quarter. Morgan Stanley now owns 112,406 shares of the company’s stock valued at $355,000 after buying an additional 110,619 shares in the last quarter. Northern Trust Corp raised its stake in shares of Vivint Solar by 60.2% in the third quarter. Northern Trust Corp now owns 820,154 shares of the company’s stock worth $2,591,000 after buying an additional 308,311 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Vivint Solar by 1.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 665,471 shares of the company’s stock worth $2,103,000 after buying an additional 10,185 shares during the period. BlackRock Investment Management LLC raised its stake in shares of Vivint Solar by 7.9% in the third quarter. BlackRock Investment Management LLC now owns 92,543 shares of the company’s stock worth $292,000 after buying an additional 6,797 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Vivint Solar by 36.3% in the third quarter. Bank of New York Mellon Corp now owns 121,837 shares of the company’s stock worth $385,000 after buying an additional 32,419 shares during the period. Hedge funds and other institutional investors own 93.28% 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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