Sunrun Inc. (NASDAQ:RUN) Downgraded by BidaskClub
Sunrun Inc. (NASDAQ:RUN) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
Several other analysts also recently weighed in on RUN. ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Sunrun from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Goldman Sachs Group, Inc. (The) set a $10.00 price target on Sunrun and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Barclays PLC upped their price target on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America Corporation restated a “neutral” rating and issued a $8.00 price target (up previously from $7.75) on shares of Sunrun in a research note on Thursday. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $9.82.
Shares of Sunrun (RUN) traded up 1.94% on Friday, hitting $6.82. The company had a trading volume of 614,906 shares. The stock has a market capitalization of $724.02 million, a PE ratio of 8.75 and a beta of -0.69. Sunrun has a 52 week low of $4.15 and a 52 week high of $7.64. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $5.78.
Sunrun (NASDAQ:RUN) last announced its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The firm had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Sunrun will post $1.05 earnings per share for the current fiscal year.
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In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction 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 sale, the chairman now directly owns 2,371,439 shares in the company, valued at approximately $16,173,213.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 24.13% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Sunrun by 0.8% in the second quarter. FMR LLC now owns 15,816,308 shares of the energy company’s stock valued at $112,612,000 after buying an additional 125,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sunrun by 6.7% in the second quarter. Vanguard Group Inc. now owns 5,853,579 shares of the energy company’s stock valued at $41,677,000 after buying an additional 369,721 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock valued at $25,631,000 after buying an additional 367,911 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in shares of Sunrun by 4.1% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,391,025 shares of the energy company’s stock valued at $7,511,000 after buying an additional 55,368 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock valued at $5,485,000 after buying an additional 113,016 shares in the last quarter. Institutional investors and hedge funds own 71.63% of the company’s stock.
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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