Zacks Investment Research downgraded shares of Vivint Solar Inc. (NYSE:VSLR) from a buy rating to a hold rating in a research note 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. “
VSLR has been the topic of a number of other reports. JMP Securities started coverage on shares of Vivint Solar in a report on Thursday, September 8th. They set a market perform rating and a $9.00 target price on the stock. Goldman Sachs Group Inc. upgraded shares of Vivint Solar from a sell rating to a neutral rating and raised their price objective for the company from $2.50 to $3.50 in a report on Thursday, October 6th. Deutsche Bank AG restated a buy rating and issued a $6.00 price objective (down from $7.50) on shares of Vivint Solar in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. upgraded shares of Vivint Solar from a market perform rating to an outperform rating and set a $7.00 price objective on the stock in a report on Tuesday, August 9th. Finally, Credit Suisse Group AG set a $4.00 price objective on shares of Vivint Solar and gave the company a hold rating in a 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 issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $5.41.
Shares of Vivint Solar (NYSE:VSLR) opened at 3.21 on Wednesday. The stock’s market capitalization is $345.76 million. Vivint Solar has a 12-month low of $2.16 and a 12-month high of $12.65. The firm has a 50-day moving average of $3.13 and a 200 day moving average of $3.02.
Vivint Solar (NYSE:VSLR) last released its earnings results on Monday, August 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.09. The company had revenue of $34.90 million for the quarter, compared to analyst estimates of $24.98 million. Vivint Solar had a negative net margin of 34.83% and a negative return on equity of 36.38%. The firm’s quarterly revenue was up 116.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. Equities analysts forecast that Vivint Solar will post ($2.04) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in shares of Vivint Solar during the second quarter valued at approximately $19,309,000. Alliancebernstein L.P. increased its position in shares of Vivint Solar by 454.5% in the second quarter. Alliancebernstein L.P. now owns 61,000 shares of the company’s stock valued at $187,000 after buying an additional 50,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position 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 last quarter. BlackRock Fund Advisors increased its position in shares of Vivint Solar by 17.5% in the second quarter. BlackRock Fund Advisors now owns 588,810 shares of the company’s stock valued at $1,808,000 after buying an additional 87,584 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in shares of Vivint Solar by 17.0% in the second quarter. BlackRock Investment Management LLC now owns 85,746 shares of the company’s stock valued at $263,000 after buying an additional 12,481 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
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).