Vivint Solar (VSLR) Stock Rating Upgraded by Zacks Investment Research
Vivint Solar (NYSE:VSLR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
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. “
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Vivint Solar from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. JMP Securities raised Vivint Solar from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 8th. Guggenheim raised Vivint Solar from a “neutral” rating to a “buy” rating in a report on Friday, June 22nd. Finally, Bank of America raised their price target on Vivint Solar from $6.50 to $7.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $5.50.
Vivint Solar (NYSE:VSLR) last released its earnings results on Tuesday, August 7th. The company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.30). The company had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $91.30 million. Vivint Solar had a net margin of 67.35% and a negative return on equity of 36.77%. On average, sell-side analysts forecast that Vivint Solar will post -0.05 EPS for the current year.
In other news, EVP Thomas G. Plagemann sold 7,050 shares of Vivint Solar stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $5.48, for a total value of $38,634.00. Following the sale, the executive vice president now directly owns 203,947 shares of the company’s stock, valued at $1,117,629.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider L. Chance Allred sold 6,980 shares of Vivint Solar stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $5.30, for a total value of $36,994.00. Following the completion of the sale, the insider now directly owns 166,400 shares in the company, valued at $881,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,092 shares of company stock worth $946,408. Insiders own 4.20% of the company’s stock.
Several hedge funds have recently modified their holdings of VSLR. Dynamic Technology Lab Private Ltd increased its holdings in shares of Vivint Solar by 217.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 33,671 shares of the company’s stock worth $167,000 after purchasing an additional 23,065 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in shares of Vivint Solar in the second quarter worth about $206,000. JPMorgan Chase & Co. increased its holdings in shares of Vivint Solar by 402.4% in the first quarter. JPMorgan Chase & Co. now owns 82,527 shares of the company’s stock worth $301,000 after purchasing an additional 66,101 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vivint Solar by 54.3% in the second quarter. Dimensional Fund Advisors LP now owns 92,712 shares of the company’s stock worth $459,000 after purchasing an additional 32,623 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Vivint Solar by 8.8% in the second quarter. First Trust Advisors LP now owns 118,942 shares of the company’s stock worth $589,000 after purchasing an additional 9,578 shares during the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
About Vivint Solar
Vivint Solar, Inc provides distributed solar energy to residential, commercial, and industrial customers in the United States. The company operates in two segments, Residential, and Commercial and Industrial. 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.
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