BMO Capital Markets Upgrades Sunrun (NASDAQ:RUN) to “Market Perform”

Sunrun (NASDAQ:RUN) was upgraded by equities research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a $19.00 price target on the energy company’s stock. BMO Capital Markets’ target price suggests a potential downside of 10.76% from the company’s current price.

RUN has been the topic of a number of other reports. Mizuho increased their price objective on shares of Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. The Goldman Sachs Group increased their price objective on shares of Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of Sunrun from $8.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group raised shares of Sunrun from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $21.00 in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

Sunrun Trading Up 2.9%

Shares of Sunrun stock opened at $21.29 on Wednesday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -1.83 and a beta of 2.41. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.44. The firm’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $11.21.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. The firm had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the completion of the transaction, the director owned 850,482 shares in the company, valued at approximately $16,422,807.42. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paul S. Dickson sold 25,614 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $20.00, for a total transaction of $512,280.00. Following the sale, the executive directly owned 655,734 shares of the company’s stock, valued at approximately $13,114,680. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 262,481 shares of company stock worth $4,834,513. 3.37% of the stock is owned by insiders.

Institutional Trading of Sunrun

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in shares of Sunrun by 181.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after buying an additional 2,660 shares during the period. Spire Wealth Management grew its position in Sunrun by 960.0% in the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after purchasing an additional 4,800 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Sunrun by 87.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock valued at $47,000 after purchasing an additional 2,700 shares during the period. Signaturefd LLC grew its position in Sunrun by 436.4% in the 2nd quarter. Signaturefd LLC now owns 7,805 shares of the energy company’s stock valued at $64,000 after purchasing an additional 6,350 shares during the period. Finally, CWM LLC grew its position in Sunrun by 53.0% in the 3rd quarter. CWM LLC now owns 8,119 shares of the energy company’s stock valued at $140,000 after purchasing an additional 2,812 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

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.