Vivint Solar, Inc. (NYSE:VSLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $4.25 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.39% from the company’s previous close.
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. “
A number of other equities analysts also recently commented on the stock. Bank of America Corporation began coverage on shares of Vivint Solar in a research note on Monday, November 6th. They set a “buy” rating on the stock. TheStreet raised shares of Vivint Solar from a “d” rating to a “c” rating in a research note on Monday, October 2nd. BidaskClub raised shares of Vivint Solar from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Guggenheim started coverage on shares of Vivint Solar in a research note on Wednesday, September 27th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, ValuEngine downgraded shares of Vivint Solar from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Vivint Solar has a consensus rating of “Hold” and a consensus target price of $5.05.
Vivint Solar (NYSE:VSLR) opened at $3.85 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.18 and a debt-to-equity ratio of 1.30. Vivint Solar has a 52 week low of $2.55 and a 52 week high of $6.09.
Vivint Solar (NYSE:VSLR) last issued its earnings results on Tuesday, November 7th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). Vivint Solar had a negative return on equity of 26.04% and a net margin of 18.65%. The firm had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $74.56 million. During the same period last year, the firm earned ($0.36) earnings per share. Vivint Solar’s revenue for the quarter was up 81.8% on a year-over-year basis. sell-side analysts forecast that Vivint Solar will post -1.44 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Vivint Solar by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the company’s stock valued at $10,200,000 after purchasing an additional 329,748 shares in the last quarter. GCA Investment Management LLC acquired a new position in Vivint Solar during the 2nd quarter worth approximately $4,556,000. State Street Corp grew its holdings in Vivint Solar by 5.8% during the 2nd quarter. State Street Corp now owns 363,520 shares of the company’s stock worth $2,127,000 after acquiring an additional 20,027 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Vivint Solar by 235.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the company’s stock worth $564,000 after acquiring an additional 141,329 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its holdings in Vivint Solar by 456.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the company’s stock worth $947,000 after acquiring an additional 132,751 shares in the last quarter. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Vivint Solar Company Profile
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.
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