Sunrun (NASDAQ:RUN) Stock Price Target Lowered at Citigroup

Sunrun (NASDAQ:RUN) had its price target dropped by investment analysts at Citigroup from $16.00 to $14.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Citigroup’s target price suggests a potential upside of 83.25% from the company’s current price.

Several other research firms have also recently issued reports on RUN. Wells Fargo & Company decreased their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Jefferies Financial Group reiterated a “hold” rating and set a $7.00 target price on shares of Sunrun in a research report on Friday. Mizuho set a $18.00 price target on Sunrun in a research note on Thursday, August 6th. UBS Group dropped their price objective on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada cut their price objective on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus price target of $15.92.

Sunrun Price Performance

NASDAQ:RUN traded up $0.05 during trading hours on Friday, reaching $7.64. 5,580,802 shares of the company traded hands, compared to its average volume of 9,270,759. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The firm’s 50-day moving average is $8.89 and its 200-day moving average is $11.56. The stock has a market cap of $1.84 billion, a P/E ratio of 5.16 and a beta of 2.44. Sunrun has a 1-year low of $7.26 and a 1-year high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company’s revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 earnings per share. Equities research analysts expect that Sunrun will post 1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, insider Jeanna Steele sold 10,042 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the sale, the insider directly owned 451,673 shares in the company, valued at $3,504,982.48. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,837 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $122,895.12. Following the completion of the sale, the executive directly owned 823,702 shares of the company’s stock, valued at $6,391,927.52. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 118,719 shares of company stock worth $1,031,277. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted 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 purchasing an additional 165,196 shares in the last quarter. Contour Asset Management LLC purchased a new stake in shares of Sunrun during the 4th quarter valued at about $98,010,000. Maple Rock Capital Partners Inc. lifted its position in Sunrun by 23.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after acquiring an additional 692,448 shares in the last quarter. Amundi boosted its holdings in Sunrun by 3.9% in the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after acquiring an additional 127,878 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Sunrun in the second quarter valued at approximately $29,953,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.