Zacks Investment Research upgraded shares of Sunrun (NASDAQ:RUN) from a strong sell rating to a hold rating in a report released on Thursday morning.

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 topic of a number of other reports. Goldman Sachs Group downgraded Sunrun from a buy rating to a neutral rating and set a $12.00 price objective on the stock. in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Bank of America raised Sunrun from a neutral rating to a buy rating and lifted their price target for the stock from $16.00 to $17.00 in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on Sunrun from $22.00 to $23.00 and gave the stock a buy rating in a research report on Friday, August 10th. TheStreet raised Sunrun from a d+ rating to a c+ rating in a report on Monday, August 6th. Finally, Morgan Stanley lowered Sunrun from an overweight rating to an equal weight rating and lifted their price objective for the stock from $8.00 to $15.00 in a report on Friday, August 3rd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $15.25.

RUN opened at $13.07 on Thursday. Sunrun has a fifty-two week low of $5.08 and a fifty-two week high of $16.44. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market cap of $1.46 billion, a PE ratio of 15.20, a PEG ratio of 0.84 and a beta of -0.59.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, November 7th. The energy company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.36). Sunrun had a return on equity of 4.78% and a net margin of 13.72%. The firm had revenue of $204.96 million for the quarter, compared to analysts’ expectations of $190.06 million. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. On average, research analysts forecast that Sunrun will post 0.89 EPS for the current fiscal year.

In related news, major shareholder Tiger Global Management Llc purchased 110,198 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were acquired at an average price of $12.13 per share, with a total value of $1,336,701.74. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders purchased 429,918 shares of company stock worth $5,049,225. 19.45% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in RUN. Levin Capital Strategies L.P. bought a new stake in Sunrun in the second quarter valued at about $131,000. IFG Advisory LLC bought a new stake in Sunrun in the third quarter valued at about $141,000. Public Employees Retirement Association of Colorado bought a new stake in Sunrun in the third quarter valued at about $153,000. DekaBank Deutsche Girozentrale increased its holdings in Sunrun by 180.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 13,045 shares of the energy company’s stock valued at $171,000 after purchasing an additional 8,395 shares during the last quarter. Finally, Hartline Investment Corp bought a new stake in Sunrun in the third quarter valued at about $175,000. Institutional investors own 75.54% of the company’s stock.

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 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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