Sunrun (NASDAQ:RUN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sunrun (NASDAQ:RUN) from a sell rating to a hold rating in a research note released on Saturday.

Several other research firms also recently issued reports on RUN. The Goldman Sachs Group decreased their price objective on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada cut their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company reduced their target price on Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $17.00 target price on shares of Sunrun in a research report on Friday, May 8th. Finally, UBS Group dropped their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and an average target price of $16.81.

Sunrun Stock Down 3.5%

RUN stock opened at $9.83 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of 6.64 and a beta of 2.36. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun has a twelve month low of $8.61 and a twelve month high of $22.44. The company’s 50 day moving average is $11.71 and its two-hundred day moving average is $13.71.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 EPS. Research analysts expect that Sunrun will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Paul S. Dickson sold 15,613 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the transaction, the executive owned 839,539 shares in the company, valued at $11,065,124.02. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing 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, CEO Mary Powell sold 23,985 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, the chief executive officer owned 1,111,535 shares in the company, valued at $14,661,146.65. This trade represents a 2.11% 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. Over the last 90 days, insiders have sold 223,045 shares of company stock valued at $2,934,835. Insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares during the period. Invesco Ltd. grew its holdings in shares of Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the period. Geode Capital Management LLC grew its holdings in Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after purchasing an additional 205,627 shares during the last quarter. Contour Asset Management LLC purchased a new position in Sunrun during the 4th quarter valued at about $98,010,000. Finally, Voloridge Investment Management LLC raised its position in shares of Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after purchasing an additional 1,100,666 shares during the last quarter. Institutional investors and hedge funds 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.