Mizuho Cuts Sunrun (NASDAQ:RUN) Price Target to $22.00

Sunrun (NASDAQ:RUN) had its price target cut by investment analysts at Mizuho from $25.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s price target indicates a potential upside of 66.04% from the stock’s current price.

RUN has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Sunrun in a research report on Thursday, January 22nd. Glj Research cut Sunrun from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank Of Canada restated an “outperform” rating on shares of Sunrun in a research note on Wednesday, December 17th. Jefferies Financial Group cut Sunrun from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Friday. Finally, Zacks Research raised Sunrun from a “hold” rating to a “strong-buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $20.15.

Sunrun Stock Performance

Shares of RUN opened at $13.25 on Monday. The stock has a 50 day moving average price of $19.12 and a 200 day moving average price of $18.40. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 3.38. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 7.75 and a beta of 2.36. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.46. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $610.29 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s revenue was up 123.5% compared to the same quarter last year. Research analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, Director Edward Harris Fenster sold 163,844 shares of Sunrun stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $19.95, for a total value of $3,268,687.80. Following the transaction, the director directly owned 1,578,895 shares in the company, valued at approximately $31,498,955.25. This trade represents a 9.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Maria Barak sold 1,630 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.55, for a total value of $30,236.50. Following the completion of the transaction, the chief accounting officer directly owned 85,643 shares in the company, valued at approximately $1,588,677.65. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 468,800 shares of company stock worth $8,925,020 in the last ninety days. Company insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Sunrun by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock valued at $418,300,000 after purchasing an additional 288,945 shares in the last quarter. PGGM Investments boosted its stake in shares of Sunrun by 17.8% in the third quarter. PGGM Investments now owns 8,256,941 shares of the energy company’s stock valued at $142,763,000 after buying an additional 1,249,683 shares in the last quarter. Maple Rock Capital Partners Inc. grew its holdings in Sunrun by 95.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock worth $66,525,000 after acquiring an additional 3,974,464 shares during the period. Invesco Ltd. raised its position in Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.