Zacks Investment Research Downgrades Sunrun (NASDAQ:RUN) to Sell

Zacks Investment Research cut shares of Sunrun (NASDAQ:RUN) from a hold rating to a sell rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “

RUN has been the subject of a number of other research reports. ValuEngine downgraded shares of Sunrun from a buy rating to a hold rating in a report on Friday, January 3rd. Credit Suisse Group set a $26.00 price objective on shares of Sunrun and gave the stock a buy rating in a report on Friday, October 11th. BidaskClub raised shares of Sunrun from a sell rating to a hold rating in a report on Tuesday, January 7th. JMP Securities set a $26.00 price objective on shares of Sunrun and gave the stock a buy rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. started coverage on shares of Sunrun in a report on Thursday, January 16th. They issued an overweight rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $21.83.

Sunrun stock traded down $0.16 during mid-day trading on Thursday, reaching $16.79. The company’s stock had a trading volume of 1,284,963 shares, compared to its average volume of 1,646,847. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 335.80, a PEG ratio of 14.40 and a beta of 0.67. The business has a 50 day moving average price of $14.72 and a 200-day moving average price of $16.01. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 1.89. Sunrun has a twelve month low of $11.93 and a twelve month high of $21.42.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Tuesday, November 12th. The energy company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business had revenue of $215.50 million during the quarter, compared to analyst estimates of $207.22 million. Sunrun had a return on equity of 0.63% and a net margin of 0.93%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. On average, equities analysts expect that Sunrun will post 0.47 EPS for the current fiscal year.

In other news, CAO Michelle Philpot sold 4,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.49, for a total transaction of $53,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Dawson sold 8,025 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $14.33, for a total transaction of $114,998.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,741 shares of company stock valued at $2,902,162. Corporate insiders own 9.34% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Sunrun by 4.3% during the third quarter. State Street Corp now owns 2,184,945 shares of the energy company’s stock valued at $36,500,000 after acquiring an additional 89,751 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Sunrun by 3.4% during the third quarter. California State Teachers Retirement System now owns 176,098 shares of the energy company’s stock valued at $2,942,000 after acquiring an additional 5,768 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Sunrun by 36.1% during the third quarter. Alps Advisors Inc. now owns 221,445 shares of the energy company’s stock valued at $3,699,000 after acquiring an additional 58,795 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of Sunrun during the third quarter valued at $182,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Sunrun by 1,553.3% during the second quarter. Nuveen Asset Management LLC now owns 451,295 shares of the energy company’s stock valued at $8,466,000 after purchasing an additional 423,999 shares in the last quarter. 87.98% of the stock is owned by institutional investors.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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