Vivint Solar (VSLR) Raised to “Hold” at Zacks Investment Research

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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. “

A number of other brokerages have also recently weighed in on VSLR. ValuEngine upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Citigroup started coverage on shares of Vivint Solar in a research note on Monday, January 7th. They issued a “neutral” rating and a $4.25 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $5.19.

Shares of Vivint Solar stock traded up $0.11 on Friday, reaching $4.10. The stock had a trading volume of 590,562 shares, compared to its average volume of 662,252. The company has a current ratio of 1.58, a quick ratio of 1.48 and a debt-to-equity ratio of 3.23. Vivint Solar has a fifty-two week low of $2.70 and a fifty-two week high of $7.44. The stock has a market capitalization of $476.07 million, a price-to-earnings ratio of -2.59 and a beta of 0.27.

Vivint Solar (NYSE:VSLR) last issued its quarterly earnings data on Tuesday, November 6th. The company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.39). Vivint Solar had a negative return on equity of 50.31% and a net margin of 61.71%. The firm had revenue of $77.88 million during the quarter, compared to analyst estimates of $88.54 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Vivint Solar’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Vivint Solar will post -2.08 earnings per share for the current year.

In related news, CEO David Bywater sold 26,800 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $3.78, for a total transaction of $101,304.00. Following the transaction, the chief executive officer now owns 726,877 shares of the company’s stock, valued at $2,747,595.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bryan Christiansen sold 40,100 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $5.16, for a total transaction of $206,916.00. Following the transaction, the chief operating officer now directly owns 179,665 shares in the company, valued at approximately $927,071.40. The disclosure for this sale can be found here. Insiders have sold 8,508,865 shares of company stock worth $44,406,999 in the last ninety days. 4.20% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP increased its holdings in Vivint Solar by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 118,942 shares of the company’s stock valued at $589,000 after buying an additional 9,578 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Vivint Solar by 24.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 75,311 shares of the company’s stock valued at $392,000 after buying an additional 14,697 shares during the period. BlackRock Inc. increased its holdings in Vivint Solar by 0.9% in the 3rd quarter. BlackRock Inc. now owns 2,004,278 shares of the company’s stock valued at $10,423,000 after buying an additional 17,483 shares during the period. Bank of New York Mellon Corp increased its holdings in Vivint Solar by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 420,196 shares of the company’s stock valued at $2,185,000 after buying an additional 18,416 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Vivint Solar by 312.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 28,076 shares of the company’s stock valued at $149,000 after buying an additional 21,276 shares during the period. 88.87% of the stock is currently owned by institutional investors and hedge funds.

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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