Brokerages Set Vivint Solar Inc (NYSE:VSLR) Price Target at $13.17

Vivint Solar Inc (NYSE:VSLR) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.17.

A number of brokerages have commented on VSLR. Zacks Investment Research raised shares of Vivint Solar from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Deutsche Bank raised shares of Vivint Solar to a “hold” rating in a research note on Wednesday, March 18th. ValuEngine upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JMP Securities lifted their price target on shares of Vivint Solar from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th.

In related news, CFO Dana C. Russell sold 55,388 shares of Vivint Solar stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $9.00, for a total value of $498,492.00. Following the completion of the transaction, the chief financial officer now owns 380,833 shares in the company, valued at $3,427,497. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dana C. Russell sold 250,000 shares of Vivint Solar stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $10.05, for a total transaction of $2,512,500.00. Following the completion of the transaction, the chief financial officer now owns 575,445 shares of the company’s stock, valued at approximately $5,783,222.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 826,940 shares of company stock valued at $7,668,934. Company insiders own 4.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Vivint Solar by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 573,291 shares of the company’s stock valued at $4,162,000 after purchasing an additional 16,972 shares in the last quarter. Phoenix Holdings Ltd. grew its holdings in shares of Vivint Solar by 23.1% in the fourth quarter. Phoenix Holdings Ltd. now owns 3,182,862 shares of the company’s stock valued at $22,948,000 after purchasing an additional 597,804 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Vivint Solar in the fourth quarter valued at approximately $50,000. UBS Asset Management Americas Inc. grew its holdings in shares of Vivint Solar by 23.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 62,459 shares of the company’s stock valued at $453,000 after purchasing an additional 11,725 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Vivint Solar by 81.4% during the 4th quarter. Bank of New York Mellon Corp now owns 327,598 shares of the company’s stock worth $2,378,000 after acquiring an additional 147,004 shares in the last quarter. Hedge funds and other institutional investors own 97.34% of the company’s stock.

Shares of NYSE:VSLR traded up $0.25 during midday trading on Wednesday, hitting $4.26. The company’s stock had a trading volume of 2,677,668 shares, compared to its average volume of 2,119,336. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.96 and a current ratio of 1.04. The business’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $7.74. Vivint Solar has a 12-month low of $3.17 and a 12-month high of $12.99. The company has a market cap of $497.88 million, a P/E ratio of -5.07 and a beta of 0.91.

Vivint Solar (NYSE:VSLR) last issued its earnings results on Tuesday, March 10th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.33). Vivint Solar had a negative return on equity of 135.60% and a negative net margin of 29.96%. The firm had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $88.15 million. During the same period last year, the firm earned ($0.73) earnings per share. Vivint Solar’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, sell-side analysts predict that Vivint Solar will post -2.58 earnings per share for the current fiscal year.

About Vivint Solar

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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Analyst Recommendations for Vivint Solar (NYSE:VSLR)

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