Vivint Solar Inc (NYSE:VSLR) Receives Consensus Recommendation of “Buy” from Analysts

Vivint Solar Inc (NYSE:VSLR) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.13.

A number of brokerages have recently commented on VSLR. Zacks Investment Research upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. Citigroup upgraded Vivint Solar from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.25 to $8.50 in a research note on Tuesday, May 7th. Roth Capital began coverage on Vivint Solar in a research note on Monday, May 6th. They issued a “buy” rating and a $10.00 target price on the stock. ValuEngine downgraded Vivint Solar from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Bank of America upped their target price on Vivint Solar from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Monday, March 11th.

In other Vivint Solar news, CEO David Bywater sold 51,300 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $6.00, for a total transaction of $307,800.00. Following the transaction, the chief executive officer now owns 1,253,397 shares in the company, valued at $7,520,382. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd R. Pedersen sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $6.97, for a total value of $697,000.00. The disclosure for this sale can be found here. Insiders have sold 570,685 shares of company stock worth $3,733,393 in the last quarter. 4.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Vivint Solar by 27.5% during the fourth quarter. FMR LLC now owns 13,610,979 shares of the company’s stock valued at $51,857,000 after acquiring an additional 2,931,932 shares during the last quarter. Delek Group Ltd. acquired a new stake in shares of Vivint Solar in the first quarter valued at approximately $3,726,000. Norges Bank acquired a new stake in shares of Vivint Solar in the fourth quarter valued at approximately $2,712,000. GCA Investment Management LLC increased its holdings in shares of Vivint Solar by 84.5% in the fourth quarter. GCA Investment Management LLC now owns 1,177,743 shares of the company’s stock valued at $4,487,000 after purchasing an additional 539,458 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Vivint Solar by 322.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 486,325 shares of the company’s stock valued at $1,853,000 after purchasing an additional 371,108 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.

Vivint Solar stock traded down $0.04 during trading hours on Monday, hitting $7.95. 842,598 shares of the stock traded hands, compared to its average volume of 783,350. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.94 and a quick ratio of 0.90. The firm’s 50 day moving average price is $6.99. The firm has a market capitalization of $963.67 million, a PE ratio of -3.34 and a beta of 0.35. Vivint Solar has a 1 year low of $3.55 and a 1 year high of $8.40.

Vivint Solar (NYSE:VSLR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.16). Vivint Solar had a negative net margin of 9.90% and a negative return on equity of 87.03%. The firm had revenue of $69.40 million for the quarter, compared to analysts’ expectations of $67.25 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts expect that Vivint Solar will post -2.56 earnings per share for the current year.

Vivint Solar Company Profile

Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. 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. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.

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