Vivint Solar Inc. (NYSE:VSLR) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a report issued on Thursday. The brokerage currently has a $3.50 price objective on the stock, up from their prior price objective of $2.50. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 9.72% from the company’s current price.
Several other research firms have also issued reports on VSLR. Zacks Investment Research raised Vivint Solar from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research note on Friday, August 12th. Credit Suisse Group AG reissued a “hold” rating on shares of Vivint Solar in a research note on Wednesday, June 8th. Oppenheimer Holdings Inc. assumed coverage on Vivint Solar in a research note on Monday, June 20th. They set a “market perform” rating on the stock. JMP Securities assumed coverage on Vivint Solar in a research note on Thursday, September 8th. They set a “market perform” rating and a $9.00 target price on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $6.00 target price (down previously from $7.50) on shares of Vivint Solar in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.41.
Shares of Vivint Solar (NYSE:VSLR) opened at 3.19 on Thursday. The company’s 50 day moving average price is $3.13 and its 200-day moving average price is $3.01. The firm’s market cap is $343.60 million. Vivint Solar has a 12-month low of $2.16 and a 12-month high of $12.85.
Vivint Solar (NYSE:VSLR) last posted its earnings results on Monday, August 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.09. Vivint Solar had a negative return on equity of 36.38% and a negative net margin of 34.83%. The firm had revenue of $34.90 million for the quarter, compared to analyst estimates of $24.98 million. During the same quarter in the prior year, the company earned $0.13 EPS. Vivint Solar’s revenue was up 116.6% on a year-over-year basis. On average, equities research analysts anticipate that Vivint Solar will post ($2.04) EPS for the current year.
A number of large investors have recently modified their holdings of the company. FMR LLC bought a new stake in shares of Vivint Solar during the second quarter valued at $19,309,000. Alliancebernstein L.P. increased its stake 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 period. BlackRock Institutional Trust Company N.A. increased its stake 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 period. BlackRock Fund Advisors increased its stake 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 period. Finally, BlackRock Investment Management LLC increased its stake 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 period. 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).
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.