Sunrun (NASDAQ:RUN) Price Target Lowered to $17.00 at Wells Fargo & Company

Sunrun (NASDAQ:RUN) had its price objective decreased by Wells Fargo & Company from $22.00 to $17.00 in a research note published on Friday morning, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Other analysts also recently issued reports about the company. Royal Bank Of Canada decreased their price target on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Citigroup lowered their target price on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Barclays cut their price target on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.81.

Sunrun Stock Performance

NASDAQ RUN opened at $10.19 on Friday. The company has a fifty day moving average price of $11.79 and a 200-day moving average price of $13.84. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 6.89 and a beta of 2.35. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. Sunrun has a 1 year low of $8.61 and a 1 year high of $22.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, equities research analysts predict that Sunrun will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director owned 459,091 shares of the company’s stock, valued at $7,308,728.72. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 9,897 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the sale, the insider owned 461,715 shares in the company, valued at approximately $6,090,020.85. This represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 223,045 shares of company stock worth $2,934,835 in the last three months. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Sunrun by 5.1% during the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after purchasing an additional 30,175 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after purchasing an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after buying an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Sunrun by 511.0% in the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock worth $158,000 after buying an additional 22,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake 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. 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.