KeyCorp Reaffirms “Underweight” Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “underweight” rating restated by stock analysts at KeyCorp in a research report issued on Tuesday, Marketbeat reports. They presently have a $6.00 price target on the energy company’s stock. KeyCorp’s target price suggests a potential downside of 2.12% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday, April 14th. BNP Paribas downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. TD Cowen dropped their price target on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. BMO Capital Markets downgraded shares of Sunrun from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Thursday, May 22nd. Finally, BNP Paribas Exane cut shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday, May 22nd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.43.

Sunrun Trading Up 6.1%

NASDAQ RUN opened at $6.13 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The business has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $8.41. Sunrun has a 12 month low of $5.38 and a 12 month high of $22.26. The firm has a market capitalization of $1.40 billion, a P/E ratio of -0.51 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to analysts’ expectations of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company’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) EPS. On average, analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, Director Edward Harris Fenster bought 50,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $10.87 per share, with a total value of $543,500.00. Following the transaction, the director now owns 1,408,182 shares of the company’s stock, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 19,343 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the transaction, the executive now owns 399,729 shares of the company’s stock, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,993 shares of company stock worth $612,979 in the last three months. 3.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

Large investors have recently made changes to their positions in the business. Focus Partners Wealth raised its holdings in Sunrun by 21.2% in the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock worth $74,000 after buying an additional 2,226 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Sunrun by 14.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company’s stock valued at $4,458,000 after acquiring an additional 98,547 shares in the last quarter. United Services Automobile Association purchased a new stake in Sunrun during the 1st quarter valued at $87,000. Caxton Associates LLP purchased a new stake in Sunrun during the 1st quarter valued at $2,045,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after purchasing an additional 718,955 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other 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.