Citigroup Initiates Coverage on Vivint Solar (VSLR)

Equities research analysts at Citigroup started coverage on shares of Vivint Solar (NYSE:VSLR) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $4.25 price target on the stock. Citigroup‘s price objective points to a potential upside of 8.97% from the company’s current price.

Several other analysts have also recently weighed in on VSLR. Zacks Investment Research upgraded shares of Vivint Solar from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. ValuEngine upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $5.19.

Shares of Vivint Solar stock opened at $3.90 on Monday. Vivint Solar has a twelve month low of $2.70 and a twelve month high of $7.44. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 3.23. The stock has a market capitalization of $472.49 million, a price-to-earnings ratio of -2.47 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 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 business had revenue of $77.88 million during the quarter, compared to analyst estimates of $88.54 million. During the same quarter last year, the firm earned ($0.33) EPS. Vivint Solar’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Vivint Solar will post -2.08 EPS for the current fiscal year.

In other news, CRO Paul S. Dickson sold 13,777 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $5.06, for a total value of $69,711.62. Following the completion of the transaction, the executive now directly owns 245,004 shares in the company, valued at approximately $1,239,720.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Bywater sold 26,800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 726,877 shares of the company’s stock, valued at $2,747,595.06. The disclosure for this sale can be found here. Insiders sold a total of 8,508,865 shares of company stock valued at $44,406,999 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of VSLR. First Trust Advisors LP raised its position in shares of 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of Vivint Solar by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 401,780 shares of the company’s stock valued at $1,989,000 after buying an additional 41,146 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Vivint Solar by 26.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,702 shares of the company’s stock worth $628,000 after purchasing an additional 26,275 shares in the last quarter. BlackRock Inc. increased its position in Vivint Solar by 15.8% during the 2nd quarter. BlackRock Inc. now owns 1,986,795 shares of the company’s stock worth $9,834,000 after purchasing an additional 270,923 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Vivint Solar by 54.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,712 shares of the company’s stock worth $459,000 after purchasing an additional 32,623 shares in the last quarter. Institutional investors own 88.87% of the company’s stock.

Vivint Solar Company Profile

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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