Bank of America Cuts Sunrun (RUN) Price Target to $16.50
Sunrun (NASDAQ:RUN) had its price target trimmed by Bank of America from $17.00 to $16.50 in a research report report published on Tuesday morning. The brokerage currently has a buy rating on the energy company’s stock.
A number of other research analysts also recently commented on the company. Credit Suisse Group increased their price target on Sunrun from $16.00 to $22.00 and gave the company an outperform rating in a report on Monday, July 2nd. Goldman Sachs Group downgraded Sunrun from a buy rating to a neutral rating and set a $12.00 price target for the company. in a report on Wednesday, July 18th. They noted that the move was a valuation call. JMP Securities reduced their price target on Sunrun from $21.00 to $20.00 and set a buy rating for the company in a report on Thursday, August 30th. TheStreet raised Sunrun from a d+ rating to a c+ rating in a report on Monday, August 6th. Finally, Morgan Stanley downgraded Sunrun from an overweight rating to an equal weight rating and increased their price target for the company from $8.00 to $15.00 in a report on Friday, August 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $14.77.
Shares of NASDAQ RUN opened at $12.22 on Tuesday. Sunrun has a 1-year low of $5.08 and a 1-year high of $16.44. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $1.38 billion, a PE ratio of 14.21, a P/E/G ratio of 0.66 and a beta of -0.84.
In other Sunrun news, Chairman Edward Harris Fenster sold 90,224 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $15.22, for a total transaction of $1,373,209.28. Following the transaction, the chairman now owns 2,281,215 shares of the company’s stock, valued at approximately $34,720,092.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lynn Michelle Jurich sold 131,004 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $14.13, for a total value of $1,851,086.52. Following the transaction, the chief executive officer now directly owns 2,984,586 shares in the company, valued at approximately $42,172,200.18. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,306,218 shares of company stock worth $16,689,298 and have sold 229,540 shares worth $3,332,186. Company insiders own 19.45% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Sunrun by 74.7% during the 1st quarter. Wells Fargo & Company MN now owns 310,716 shares of the energy company’s stock worth $2,774,000 after purchasing an additional 132,890 shares during the period. Swiss National Bank raised its position in shares of Sunrun by 7.2% during the 1st quarter. Swiss National Bank now owns 120,450 shares of the energy company’s stock worth $1,076,000 after purchasing an additional 8,100 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Sunrun by 11.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 358,944 shares of the energy company’s stock worth $3,206,000 after purchasing an additional 37,515 shares during the period. Aperio Group LLC raised its position in shares of Sunrun by 20.8% during the 1st quarter. Aperio Group LLC now owns 31,228 shares of the energy company’s stock worth $279,000 after purchasing an additional 5,378 shares during the period. Finally, Northern Trust Corp raised its position in shares of Sunrun by 3.6% during the 1st quarter. Northern Trust Corp now owns 872,301 shares of the energy company’s stock worth $7,790,000 after purchasing an additional 30,275 shares during the period. 79.01% of the stock is currently owned by institutional investors.
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 leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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