Sunrun (NASDAQ:RUN) Stock Rating Lowered by Zacks Research

Sunrun (NASDAQ:RUN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Citigroup lowered their price target on Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Mizuho lowered their target price on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 target price on shares of Sunrun in a report on Thursday, May 7th. Susquehanna lowered their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Finally, Jefferies Financial Group lowered their target price on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.48.

Sunrun Trading Down 2.6%

Shares of NASDAQ:RUN opened at $14.85 on Tuesday. The company has a market cap of $3.54 billion, a P/E ratio of 6.97 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. Sunrun has a 1 year low of $5.38 and a 1 year high of $22.44. The stock’s fifty day moving average price is $13.56 and its 200-day moving average price is $16.24.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. The firm had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company’s quarterly revenue was up 43.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Sell-side analysts expect that Sunrun will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other Sunrun news, CAO Maria Barak sold 8,039 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $13.67, for a total value of $109,893.13. Following the completion of the sale, the chief accounting officer owned 72,963 shares in the company, valued at $997,404.21. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 76,478 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider owned 384,538 shares of the company’s stock, valued at approximately $5,095,128.50. The trade was a 16.59% decrease in their position. 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. Over the last 90 days, insiders have sold 698,868 shares of company stock valued at $9,412,016. 3.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Sunrun by 74.7% in the first quarter. Bank of America Corp DE now owns 2,054,524 shares of the energy company’s stock worth $27,859,000 after buying an additional 878,319 shares in the last quarter. Amundi grew its position in shares of Sunrun by 56.3% during the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after purchasing an additional 1,188,564 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Sunrun by 22.4% during the first quarter. California State Teachers Retirement System now owns 267,162 shares of the energy company’s stock worth $3,623,000 after purchasing an additional 48,965 shares in the last quarter. Empowered Funds LLC grew its position in shares of Sunrun by 26.3% during the first quarter. Empowered Funds LLC now owns 20,856 shares of the energy company’s stock worth $283,000 after purchasing an additional 4,342 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Sunrun by 3.9% during the first quarter. The Manufacturers Life Insurance Company now owns 149,359 shares of the energy company’s stock worth $2,025,000 after purchasing an additional 5,545 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

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.