Sunrun Inc. (NASDAQ:RUN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other research firms have also recently issued reports on RUN. Zacks Investment Research cut shares of Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Barclays PLC boosted their price objective on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Bank of America Corporation reissued a “neutral” rating and issued a $8.00 price objective (up from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. ValuEngine raised shares of Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 price objective on shares of Sunrun and gave the company a “buy” rating in a research report on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $9.33.
Shares of Sunrun (RUN) opened at 6.05 on Wednesday. Sunrun has a one year low of $4.15 and a one year high of $7.34. The stock has a market capitalization of $642.27 million, a price-to-earnings ratio of 7.77 and a beta of -0.64. The firm has a 50-day moving average of $6.68 and a 200 day moving average of $6.68.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $137.85 million during the quarter, compared to analysts’ expectations of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. On average, equities research analysts predict that Sunrun will post $1.01 EPS for the current year.
In other news, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $7.16, for a total value of $240,404.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total transaction of $784,941.08. Following the completion of the sale, the chairman now directly owns 2,371,439 shares of the company’s stock, valued at approximately $16,173,213.98. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in RUN. Teachers Advisors LLC lifted its position in shares of Sunrun by 24.6% in the 4th quarter. Teachers Advisors LLC now owns 126,161 shares of the energy company’s stock worth $670,000 after purchasing an additional 24,909 shares during the period. Wells Fargo & Company MN lifted its position in shares of Sunrun by 108.9% in the 1st quarter. Wells Fargo & Company MN now owns 281,450 shares of the energy company’s stock worth $1,519,000 after purchasing an additional 146,733 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Sunrun by 11.1% in the 1st quarter. Bank of New York Mellon Corp now owns 377,406 shares of the energy company’s stock worth $2,038,000 after purchasing an additional 37,857 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Sunrun by 155.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after purchasing an additional 26,486 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Sunrun in the 1st quarter worth approximately $458,000. 73.57% of the stock is owned by hedge funds and other institutional investors.
Sunrun Company Profile
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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