Vivint Solar (NYSE:VSLR) Downgraded by JMP Securities

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JMP Securities lowered shares of Vivint Solar (NYSE:VSLR) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have $15.00 price objective on the stock.

Several other research firms also recently commented on VSLR. Zacks Investment Research downgraded Vivint Solar from a hold rating to a sell rating in a research report on Friday, June 19th. TheStreet raised Vivint Solar from a d+ rating to a c rating in a report on Tuesday, June 23rd. Goldman Sachs Group cut Vivint Solar from a buy rating to a neutral rating and raised their price target for the company from $9.00 to $10.00 in a report on Wednesday, June 24th. Deutsche Bank raised Vivint Solar to a hold rating in a report on Wednesday, March 18th. Finally, ValuEngine cut Vivint Solar from a strong-buy rating to a buy rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Vivint Solar presently has a consensus rating of Hold and an average price target of $12.17.

NYSE VSLR opened at $15.33 on Tuesday. The company’s fifty day simple moving average is $9.15 and its 200-day simple moving average is $7.95. Vivint Solar has a 52 week low of $3.17 and a 52 week high of $15.69. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 7.32. The stock has a market cap of $1.92 billion, a P/E ratio of -16.31 and a beta of 1.31.

Vivint Solar (NYSE:VSLR) last posted its earnings results on Thursday, May 7th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.33). The firm had revenue of $91.20 million for the quarter, compared to analyst estimates of $79.72 million. Vivint Solar had a negative return on equity of 165.27% and a negative net margin of 32.03%. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, research analysts expect that Vivint Solar will post -2.86 EPS for the current fiscal year.

In related news, insider L. Chance Allred sold 5,395 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $10.17, for a total value of $54,867.15. Following the completion of the transaction, the insider now owns 200,303 shares of the company’s stock, valued at $2,037,081.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas G. Plagemann sold 2,995 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $10.17, for a total value of $30,459.15. In the last three months, insiders sold 24,125 shares of company stock valued at $234,379. 4.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its position in shares of Vivint Solar by 3.8% during the first quarter. First Trust Advisors LP now owns 116,179 shares of the company’s stock valued at $577,000 after acquiring an additional 4,255 shares during the last quarter. Swiss National Bank grew its holdings in shares of Vivint Solar by 4.9% during the fourth quarter. Swiss National Bank now owns 81,500 shares of the company’s stock valued at $592,000 after buying an additional 3,800 shares in the last quarter. State Street Corp raised its position in Vivint Solar by 4.2% during the fourth quarter. State Street Corp now owns 913,066 shares of the company’s stock valued at $6,629,000 after buying an additional 36,488 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Vivint Solar by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 274,961 shares of the company’s stock worth $1,997,000 after acquiring an additional 5,990 shares in the last quarter. Finally, Barclays PLC boosted its position in Vivint Solar by 103.2% during the 4th quarter. Barclays PLC now owns 44,131 shares of the company’s stock worth $320,000 after acquiring an additional 22,410 shares during the period. 96.46% of the stock is owned by hedge funds and other institutional investors.

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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