BidaskClub Lowers Sunrun Inc. (RUN) to Hold
Sunrun Inc. (NASDAQ:RUN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.
RUN has been the subject of several other research reports. ValuEngine downgraded shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Sunrun from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) set a $10.00 price objective on shares of Sunrun and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC raised their price objective on shares of Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $8.00 price objective (up previously from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Sunrun currently has a consensus rating of “Buy” and an average target price of $9.33.
Shares of Sunrun (NASDAQ:RUN) traded up 2.19% on Wednesday, reaching $5.59. 2,865,611 shares of the company were exchanged. Sunrun has a 12 month low of $4.15 and a 12 month high of $7.34. The company’s 50-day moving average price is $6.68 and its 200 day moving average price is $6.68. The company has a market cap of $593.44 million, a price-to-earnings ratio of 7.18 and a beta of -0.64.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $137.85 million during the quarter, compared to the consensus estimate of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, equities research analysts expect that Sunrun will post $1.01 EPS for the current year.
In related news, Chairman Edward Harris Fenster sold 115,094 shares of Sunrun stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the sale, the chairman now owns 2,371,439 shares of the company’s stock, valued at approximately $16,173,213.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven Vassallo sold 33,576 shares of Sunrun stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.16, for a total transaction of $240,404.16. The disclosure for this sale can be found here. Company insiders own 24.13% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Suntrust Banks Inc. acquired a new stake in Sunrun in the 2nd quarter valued at $112,000. Citigroup Inc. grew its position in Sunrun by 760.3% in the 2nd quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock valued at $133,000 after purchasing an additional 16,507 shares during the period. Legal & General Group Plc grew its position in Sunrun by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock valued at $141,000 after purchasing an additional 2,768 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Sunrun by 30.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock valued at $159,000 after purchasing an additional 5,134 shares during the period. Finally, ETRADE Capital Management LLC acquired a new stake in Sunrun in the 2nd quarter valued at $195,000. 73.57% of the stock is owned by institutional investors and hedge funds.
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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