Sunrun Inc. (NASDAQ:RUN) Given Average Rating of “Hold” by Analysts

Shares of Sunrun Inc. (NASDAQ:RUN) have been assigned a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.9805.

A number of equities analysts have issued reports on the company. Susquehanna lowered their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Glj Research reaffirmed a “sell” rating and issued a $4.63 target price on shares of Sunrun in a report on Thursday, June 11th. JPMorgan Chase & Co. decreased their price target on Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $17.00 price target on shares of Sunrun in a research note on Friday, May 8th. Finally, Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th.

Sunrun Price Performance

Shares of RUN opened at $12.44 on Thursday. Sunrun has a 12-month low of $5.51 and a 12-month high of $22.44. The business has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $15.84. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The stock has a market cap of $2.97 billion, a PE ratio of 5.84 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to analysts’ expectations of $688.50 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. Analysts anticipate that Sunrun will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeanna Steele sold 76,478 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider owned 384,538 shares of the company’s stock, valued at approximately $5,095,128.50. This represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the completion of the sale, the chief executive officer directly owned 934,282 shares of the company’s stock, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 694,816 shares of company stock valued at $9,366,473. Corporate insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Contour Asset Management LLC acquired a new stake in shares of Sunrun in the fourth quarter valued at about $98,010,000. Norges Bank acquired a new stake in shares of Sunrun in the fourth quarter valued at about $62,169,000. Voloridge Investment Management LLC acquired a new stake in shares of Sunrun in the third quarter valued at about $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after buying an additional 1,609,803 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sunrun in the third quarter valued at about $21,427,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.