Bank of America Raises Vivint Solar (VSLR) Price Target to $10.00

Vivint Solar (NYSE:VSLR) had its price target increased by Bank of America from $9.50 to $10.00 in a research report report published on Monday. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also weighed in on VSLR. ValuEngine upgraded Vivint Solar from a hold rating to a buy rating in a research note on Tuesday, February 19th. JMP Securities reissued a buy rating and set a $12.00 price target on shares of Vivint Solar in a research report on Wednesday, March 6th. Zacks Investment Research downgraded Vivint Solar from a hold rating to a sell rating in a research report on Saturday, March 9th. Finally, Citigroup initiated coverage on Vivint Solar in a research report on Monday, January 7th. They set a neutral rating and a $4.25 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $7.69.

Shares of NYSE VSLR opened at $5.06 on Monday. The company has a market cap of $590.15 million, a PE ratio of -2.13 and a beta of 0.51. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.59 and a current ratio of 1.67. Vivint Solar has a 1-year low of $3.15 and a 1-year high of $7.44.

In related news, CFO Dana C. Russell sold 36,275 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $4.66, for a total transaction of $169,041.50. Following the sale, the chief financial officer now owns 470,549 shares of the company’s stock, valued at $2,192,758.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Bywater sold 21,700 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $4.62, for a total value of $100,254.00. Following the sale, the chief executive officer now directly owns 1,304,697 shares in the company, valued at approximately $6,027,700.14. The disclosure for this sale can be found here. Insiders have sold 102,876 shares of company stock worth $453,988 in the last three months. 4.20% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Mitchell Capital Management Co. boosted its holdings in shares of Vivint Solar by 68.0% in the 4th quarter. Mitchell Capital Management Co. now owns 16,800 shares of the company’s stock valued at $64,000 after purchasing an additional 6,800 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Vivint Solar by 55.1% in the 4th quarter. Alps Advisors Inc. now owns 21,158 shares of the company’s stock valued at $81,000 after purchasing an additional 7,515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vivint Solar by 41.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,613 shares of the company’s stock valued at $98,000 after acquiring an additional 7,534 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Vivint Solar by 46.7% during the 4th quarter. Rhumbline Advisers now owns 43,243 shares of the company’s stock valued at $165,000 after acquiring an additional 13,769 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Vivint Solar by 24.2% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 75,311 shares of the company’s stock valued at $392,000 after acquiring an additional 14,697 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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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