Vistra Corp [NYSE: VST] stock went on an upward path that rose over 5.44% on Thursday, amounting to a one-week price increase of more than 7.00%. The company report on January 31, 2024 at 8:00 AM that Vistra Announces Cash Tender Offer for Remaining TRA Rights.
Vistra Corp. (NYSE: VST) (the “Company” or “Vistra”) announced today the commencement of a cash tender offer (the “Tender Offer”) to purchase any and all outstanding rights (the “TRA Rights”) for the benefit of registered holders (“Holders”) to receive payments from the Company related to certain tax benefits that were issued pursuant to that certain Tax Receivable Agreement, dated October 3, 2016, by and between the Company and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company, as transfer agent, as amended and restated by the Amended and Restated Tax Receivable Agreement, dated as of December 29, 2023, by and between the Company and Equiniti Trust Company, LLC, a New York limited liability company, as transfer agent (“Equiniti”). The Company repurchased approximately 85% of the outstanding TRA Rights for a purchase price of $1.50 each in a series of privately negotiated transactions that occurred in December 2023 and January 2024 (collectively, the “Previous Transactions”). In connection with the Previous Transactions, certain amendments were effectuated in the Tax Receivable Agreement, including (i) the removal of the Company’s obligation to provide Holders with regular reporting and access to information, (ii) limitations on the transferability of the TRA Rights, (iii) removal of certain obligations of the Company in the event it incurs indebtedness and (iv) a change to the definition of “Change of Control.” Additionally, the Company agreed in the Previous Transactions that if the Company repurchases TRA Rights at any time on or prior to June 26, 2024 at a price per TRA Right greater than $1.50, the Company will pay the selling holders in the Previous Transactions an amount equal to such excess purchase price per TRA Right sold by such selling holders.
The price offered in the Tender Offer and other information relating to the Tender Offer are set forth in the table below.
Over the last 12 months, VST stock rose by 87.60%. The one-year Vistra Corp stock forecast points to a potential upside of 1.93. The average equity rating for VST stock is currently 1.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $15.47 billion, with 389.75 million shares outstanding and 351.50 million shares in the current float. Compared to the average trading volume of 3.51M shares, VST stock reached a trading volume of 4907765 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Vistra Corp [VST]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VST shares is $44.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VST stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Vistra Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2021.
The Average True Range (ATR) for Vistra Corp is set at 0.88, with the Price to Sales ratio for VST stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 4.47, with the Price to Cash per share for the same quarter was set at 8.98. Price to Free Cash Flow for VST in the course of the last twelve months was 7.46 with Quick ratio for the last quarter at 1.14.
VST Stock Performance Analysis:
Vistra Corp [VST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.00. With this latest performance, VST shares gained by 13.63% in over the last four-week period, additionally plugging by 54.56% over the last 6 months – not to mention a rise of 87.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VST stock in for the last two-week period is set at 75.76, with the RSI for the last a single of trading hit 79.60, and the three-weeks RSI is set at 73.06 for Vistra Corp [VST]. The present Moving Average for the last 50 days of trading for this stock 38.10, while it was recorded at 41.37 for the last single week of trading, and 31.15 for the last 200 days.
Insight into Vistra Corp Fundamentals:
Vistra Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.14 and a Current Ratio set at 1.22.
VST Stock EPS
With the latest financial reports released by the company, Vistra Corp posted -0.73/share EPS, while the average EPS was predicted by analysts to be reported at 4.63/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -115.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VST.
Vistra Corp [VST] Institutonal Ownership Details
The top three institutional holders of VST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VST stock with ownership which is approximately 5.8325%.