Sunrun (NASDAQ:RUN) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Sunrun (NASDAQ:RUN) from a sell rating to a hold rating in a report released on Sunday,Wall Street Zen reports.

RUN has been the subject of several other reports. Weiss Ratings raised shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Susquehanna lowered their price objective on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 14th. The Goldman Sachs Group dropped their target price on shares of Sunrun from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Royal Bank Of Canada cut their target price on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Citigroup cut their target price on shares of Sunrun from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.98.

Sunrun Price Performance

NASDAQ RUN opened at $7.30 on Friday. Sunrun has a one year low of $7.17 and a one year high of $21.95. The stock has a 50-day moving average of $8.57 and a 200 day moving average of $11.35. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 4.93 and a beta of 2.44.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. On average, sell-side analysts forecast that Sunrun will post 1.46 EPS for the current year.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 10,042 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the sale, the insider directly owned 451,673 shares in the company, valued at $3,504,982.48. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 24,335 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $188,839.60. Following the sale, the chief executive officer directly owned 1,087,200 shares of the company’s stock, valued at $8,436,672. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 118,719 shares of company stock valued at $1,031,277. 3.55% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of Sunrun during the 2nd quarter valued at approximately $29,953,000. Bank of New York Mellon Corp purchased a new stake in Sunrun in the 2nd quarter worth approximately $18,120,000. Amundi increased its holdings in Sunrun by 56.3% in the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after acquiring an additional 1,188,564 shares in the last quarter. Deutsche Bank AG purchased a new stake in Sunrun in the 2nd quarter worth approximately $12,483,000. Finally, Diversify Advisory Services LLC bought a new stake in Sunrun during the 2nd quarter worth approximately $8,254,000. 91.69% of the stock is currently owned by institutional investors.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.