Sunrun (NASDAQ:RUN) Stock Rating Lowered by Royal Bank Of Canada

Sunrun (NASDAQ:RUN) was downgraded by equities research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $5.00 target price on the energy company’s stock, down from their previous target price of $12.00. Royal Bank Of Canada’s target price would suggest a potential downside of 18.43% from the company’s current price.

Several other brokerages also recently weighed in on RUN. UBS Group reduced their price target on shares of Sunrun from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 30th. The Goldman Sachs Group raised their price target on shares of Sunrun from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 19th. BNP Paribas Exane downgraded shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Thursday, May 22nd. Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. Finally, TD Cowen cut their target price on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.43.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $6.13 on Wednesday. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.26. The company has a 50 day simple moving average of $8.11 and a two-hundred day simple moving average of $8.37. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -0.51 and a beta of 2.61. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.99 and a current ratio of 1.32.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share. Analysts expect that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now directly owns 291,238 shares in the company, valued at $1,962,944.12. The trade was a 3.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Danny Abajian sold 16,927 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the sale, the chief financial officer now owns 231,279 shares in the company, valued at approximately $1,558,820.46. This trade represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,993 shares of company stock worth $612,979 in the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of large investors have recently made changes to their positions in RUN. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun in the 4th quarter worth about $29,000. Summit Securities Group LLC bought a new position in Sunrun during the 4th quarter valued at about $53,000. Union Bancaire Privee UBP SA bought a new position in Sunrun during the 4th quarter valued at about $56,000. Apollon Wealth Management LLC bought a new position in Sunrun during the 1st quarter valued at about $60,000. Finally, US Bancorp DE grew its holdings in Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after purchasing an additional 5,342 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.