Citigroup Cuts Sunrun (NASDAQ:RUN) Price Target to $20.00

Sunrun (NASDAQ:RUN) had its target price decreased by research analysts at Citigroup from $26.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Citigroup’s price target would suggest a potential upside of 67.64% from the company’s previous close.

Several other brokerages have also weighed in on RUN. The Goldman Sachs Group cut their price objective on Sunrun from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Glj Research restated a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a report on Thursday, April 16th. Mizuho cut their price objective on Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Finally, Raymond James Financial started coverage on Sunrun in a report on Monday, January 12th. They issued a “market perform” rating for the company. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.88.

Sunrun Price Performance

Shares of Sunrun stock traded down $0.25 during trading on Tuesday, hitting $11.93. The stock had a trading volume of 5,819,322 shares, compared to its average volume of 9,549,793. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.66 and a quick ratio of 1.27. The firm has a market cap of $2.81 billion, a P/E ratio of 6.94 and a beta of 2.37. The business has a fifty day moving average of $14.48 and a two-hundred day moving average of $17.48. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The company’s revenue was up 123.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, sell-side analysts expect that Sunrun will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other news, insider Jeanna Steele sold 76,478 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the completion of the sale, the insider directly owned 384,538 shares of the company’s stock, valued at $5,095,128.50. This represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 8,039 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $13.67, for a total value of $109,893.13. Following the transaction, the chief accounting officer directly owned 72,963 shares in the company, valued at $997,404.21. The trade was a 9.92% 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. Insiders sold a total of 879,894 shares of company stock valued at $13,017,496 over the last 90 days. 3.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RUN. Royal Bank of Canada raised its position in Sunrun by 5.1% during the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after buying an additional 30,175 shares during the period. Integrated Wealth Concepts LLC raised its position in Sunrun by 47.8% during the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after buying an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sunrun by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock valued at $1,397,000 after buying an additional 5,882 shares during the period. Jones Financial Companies Lllp raised its position in Sunrun by 511.0% during the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after buying an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.