Sunrun (NASDAQ:RUN – Free Report) had its price target lowered by Susquehanna from $15.00 to $13.00 in a report released on Wednesday, MarketBeat reports. The brokerage currently has a positive rating on the energy company’s stock.
Other equities analysts also recently issued research reports about the company. Wells Fargo & Company cut their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. The Goldman Sachs Group reduced their target price on Sunrun from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Royal Bank Of Canada decreased their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Barclays lowered their target price on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $7.00 target price on shares of Sunrun in a research note on Friday, October 9th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.98.
Check Out Our Latest Stock Report on RUN
Sunrun Stock Down 4.5%
Shares of NASDAQ:RUN opened at $7.30 on Wednesday. Sunrun has a 1 year low of $7.17 and a 1 year high of $21.95. The business has a 50 day simple moving average of $8.57 and a two-hundred day simple moving average of $11.35. The firm has a market capitalization of $1.76 billion, a PE ratio of 4.93 and a beta of 2.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00.
Sunrun (NASDAQ:RUN – Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The firm had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 52.8% on a year-over-year basis. On average, equities analysts predict that Sunrun will post 1.46 EPS for the current year.
Insider Activity
In related news, CEO Mary Powell sold 24,335 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $188,839.60. Following the transaction, the chief executive officer owned 1,087,200 shares of the company’s stock, valued at $8,436,672. This represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total value of $498,000.00. Following the transaction, the director owned 367,405 shares in the company, valued at $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 118,719 shares of company stock valued at $1,031,277. Insiders own 3.55% of the company’s stock.
Institutional Investors Weigh In On Sunrun
Several hedge funds have recently made changes to their positions in the company. Leonteq Securities AG increased its stake in shares of Sunrun by 26.8% during the first quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after buying an additional 1,327 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Sunrun in the fourth quarter worth about $27,000. Van ECK Associates Corp lifted its stake in Sunrun by 3.7% in the second quarter. Van ECK Associates Corp now owns 42,838 shares of the energy company’s stock worth $573,000 after acquiring an additional 1,528 shares during the period. Allworth Financial LP bought a new position in Sunrun during the 2nd quarter worth about $25,000. Finally, Pictet Asset Management Holding SA grew its holdings in Sunrun by 6.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 37,646 shares of the energy company’s stock worth $510,000 after acquiring an additional 2,137 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
Sunrun Company Profile
Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.
Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.
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