Sunrun (NASDAQ:RUN) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Sunrun (NASDAQ:RUN) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Several other brokerages have also commented on RUN. Susquehanna cut their price target on shares of Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a research note on Thursday, April 9th. Oppenheimer lifted their price target on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Mizuho cut their price target on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. UBS Group cut their target price on shares of Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Glj Research reaffirmed a “sell” rating and issued a $4.63 target price on shares of Sunrun in a report on Thursday, April 16th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.48.

Sunrun Trading Down 2.6%

Shares of Sunrun stock opened at $14.85 on Tuesday. The company has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $16.24. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.44. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 6.97 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same period last year, the business earned $0.20 EPS. Sunrun’s revenue for the quarter was up 43.2% compared to the same quarter last year. On average, equities analysts forecast that Sunrun will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 132,953 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,761,627.25. Following the transaction, the chief financial officer directly owned 432,157 shares of the company’s stock, valued at approximately $5,726,080.25. The trade was a 23.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 76,478 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the completion of the transaction, the insider directly owned 384,538 shares in the company, valued at $5,095,128.50. This represents a 16.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 698,868 shares of company stock worth $9,412,016 in the last ninety days. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after purchasing an additional 288,945 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sunrun by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after purchasing an additional 165,196 shares in the last quarter. Invesco Ltd. boosted its position in shares of Sunrun by 26.6% during the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after purchasing an additional 1,231,628 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after purchasing an additional 205,627 shares in the last quarter. Finally, Contour Asset Management LLC purchased a new stake in shares of Sunrun during the 4th quarter worth $98,010,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.