Zacks Investment Research upgraded shares of Vivint Solar, Inc. (NYSE:VSLR) from a hold rating to a buy rating in a report published on Saturday morning. Zacks Investment Research currently has $5.25 price target on the semiconductor company’s stock.
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 weighed in on VSLR. ValuEngine upgraded shares of Vivint Solar from a sell rating to a hold rating in a research report on Wednesday, June 21st. BidaskClub cut shares of Vivint Solar from a strong-buy rating to a buy rating in a research report on Friday, August 11th. Credit Suisse Group set a $4.00 price objective on shares of Vivint Solar and gave the stock a hold rating in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) upgraded shares of Vivint Solar from a neutral rating to a buy rating and increased their price objective for the stock from $3.50 to $6.00 in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG cut shares of Vivint Solar from a buy rating to a hold rating and set a $6.00 price objective for the company. in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $5.38.
Vivint Solar (NYSE VSLR) opened at 4.80 on Friday. The company has a market capitalization of $549.43 million, a PE ratio of 10.08 and a beta of -0.25. Vivint Solar has a 12 month low of $2.50 and a 12 month high of $6.09. The stock’s 50 day moving average is $5.34 and its 200-day moving average is $3.71.
Vivint Solar (NYSE:VSLR) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.07. Vivint Solar had a net margin of 26.35% and a negative return on equity of 26.46%. The company had revenue of $73 million during the quarter, compared to analysts’ expectations of $65.41 million. During the same period in the prior year, the company posted $0.12 earnings per share. Vivint Solar’s revenue for the quarter was up 109.2% compared to the same quarter last year. On average, analysts expect that Vivint Solar will post ($1.48) EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This story was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://stocknewstimes.com/2017/08/16/vivint-solar-inc-vslr-upgraded-by-zacks-investment-research-to-buy.html.
In related news, EVP Thomas G. Plagemann sold 46,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $3.06, for a total transaction of $140,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider L. Chance Allred sold 30,700 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $3.10, for a total transaction of $95,170.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 504,861 shares of company stock worth $2,410,242. 4.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. IPG Investment Advisors LLC bought a new position in shares of Vivint Solar during the first quarter valued at about $112,000. OMERS ADMINISTRATION Corp bought a new position in shares of Vivint Solar during the first quarter valued at about $118,000. Bank of New York Mellon Corp raised its position in shares of Vivint Solar by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 152,176 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 914 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Vivint Solar by 108.3% in the first quarter. Neuberger Berman Group LLC now owns 101,935 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 53,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Vivint Solar by 235.2% in the first quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the semiconductor company’s stock valued at $564,000 after buying an additional 141,329 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
About Vivint Solar
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
Get a free copy of the Zacks research report on Vivint Solar (VSLR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vivint Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vivint Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
