Vivint Solar (VSLR) Raised to “Buy” at Guggenheim

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Guggenheim upgraded shares of Vivint Solar (NYSE:VSLR) from a neutral rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports.

Other equities analysts have also recently issued reports about the company. ValuEngine cut Vivint Solar from a hold rating to a sell rating in a research report on Thursday. Zacks Investment Research cut Vivint Solar from a buy rating to a hold rating in a research report on Wednesday, May 9th. Finally, Bank of America set a $6.00 price target on Vivint Solar and gave the company a buy rating in a research report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $5.38.

Shares of VSLR opened at $5.35 on Friday. The firm has a market capitalization of $576.64 million, a price-to-earnings ratio of -3.39 and a beta of -0.51. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.88 and a current ratio of 0.99. Vivint Solar has a 1 year low of $2.70 and a 1 year high of $6.09.

Vivint Solar (NYSE:VSLR) last issued its earnings results on Tuesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.21). The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.56 million. Vivint Solar had a net margin of 64.57% and a negative return on equity of 28.69%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. research analysts anticipate that Vivint Solar will post -1.18 earnings per share for the current fiscal year.

In related news, insider L. Chance Allred sold 222,944 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $4.50, for a total transaction of $1,003,248.00. Following the completion of the transaction, the insider now directly owns 449,967 shares in the company, valued at $2,024,851.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas G. Plagemann sold 46,300 shares of the business’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $3.71, for a total value of $171,773.00. Following the transaction, the executive vice president now owns 210,997 shares of the company’s stock, valued at $782,798.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 665,486 shares of company stock valued at $2,795,146. 4.20% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of VSLR. Schwab Charles Investment Management Inc. grew its position in Vivint Solar by 28.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 97,268 shares of the company’s stock worth $394,000 after buying an additional 21,712 shares in the last quarter. Bank of New York Mellon Corp grew its position in Vivint Solar by 161.8% during the fourth quarter. Bank of New York Mellon Corp now owns 338,412 shares of the company’s stock worth $1,371,000 after buying an additional 209,141 shares in the last quarter. Guggenheim Capital LLC grew its position in Vivint Solar by 84.1% during the fourth quarter. Guggenheim Capital LLC now owns 2,098,429 shares of the company’s stock worth $8,499,000 after buying an additional 958,796 shares in the last quarter. Victory Capital Management Inc. grew its position in Vivint Solar by 141.4% during the first quarter. Victory Capital Management Inc. now owns 51,867 shares of the company’s stock worth $189,000 after buying an additional 30,383 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Vivint Solar by 402.4% during the first quarter. JPMorgan Chase & Co. now owns 82,527 shares of the company’s stock worth $301,000 after buying an additional 66,101 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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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