Sunrun (RUN) Receives New Coverage from Analysts at Barclays

Investment analysts at Barclays initiated coverage on shares of Sunrun (NASDAQ:RUN) in a research note issued on Thursday, The Fly reports. The firm set an “overweight” rating and a $21.00 price target on the energy company’s stock. Barclays‘s price target indicates a potential upside of 42.18% from the company’s current price.

A number of other research analysts have also recently commented on the company. BidaskClub cut Sunrun from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Bank of America reiterated a “buy” rating and issued a $23.50 price target (up from $17.50) on shares of Sunrun in a research note on Thursday, April 25th. TheStreet cut Sunrun from a “b-” rating to a “c+” rating in a research note on Friday, March 29th. Credit Suisse Group set a $24.00 price target on Sunrun and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.94.

Shares of RUN opened at $14.77 on Thursday. Sunrun has a 52 week low of $8.81 and a 52 week high of $17.44. The firm has a market capitalization of $1.70 billion, a PE ratio of 64.22, a PEG ratio of 1.01 and a beta of 0.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.37 and a quick ratio of 1.15.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.43). Sunrun had a negative net margin of 1.88% and a negative return on equity of 1.19%. The firm had revenue of $194.50 million during the quarter, compared to the consensus estimate of $152.90 million. As a group, analysts expect that Sunrun will post 1.18 EPS for the current year.

In related news, General Counsel Jeanna Steele sold 4,657 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $14.58, for a total transaction of $67,899.06. Following the completion of the transaction, the general counsel now directly owns 112,812 shares of the company’s stock, valued at approximately $1,644,798.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Edward Harris Fenster sold 40,534 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $628,682.34. Following the transaction, the chairman now directly owns 2,330,192 shares of the company’s stock, valued at $36,141,277.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 490,540 shares of company stock valued at $7,916,585. 9.34% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Sunrun by 230.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 505,989 shares of the energy company’s stock worth $6,295,000 after acquiring an additional 352,702 shares during the period. Vanguard Group Inc grew its holdings in Sunrun by 8.8% during the 3rd quarter. Vanguard Group Inc now owns 7,664,932 shares of the energy company’s stock worth $95,351,000 after acquiring an additional 618,002 shares during the period. Vanguard Group Inc. grew its holdings in Sunrun by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,664,932 shares of the energy company’s stock worth $95,351,000 after acquiring an additional 618,002 shares during the period. Norges Bank acquired a new stake in Sunrun during the 4th quarter worth about $16,863,000. Finally, Morgan Stanley grew its holdings in Sunrun by 104.8% during the 3rd quarter. Morgan Stanley now owns 1,371,638 shares of the energy company’s stock worth $17,064,000 after acquiring an additional 701,745 shares during the period. 84.91% of the stock is owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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