UBS Group Cuts Sunrun (NASDAQ:RUN) Price Target to $12.00

Sunrun (NASDAQ:RUN) had its price objective trimmed by UBS Group from $17.00 to $12.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

A number of other brokerages have also recently commented on RUN. Citigroup reaffirmed a “neutral” rating and set a $7.00 price target on shares of Sunrun in a research report on Thursday, April 17th. Wall Street Zen raised shares of Sunrun to a “sell” rating in a research report on Thursday, May 8th. Jefferies Financial Group cut their price target on shares of Sunrun from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, May 28th. Royal Bank of Canada reduced their target price on Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, BNP Paribas Exane downgraded Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.15.

Sunrun Stock Performance

Shares of RUN opened at $7.34 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $1.68 billion, a P/E ratio of -4.03 and a beta of 2.66. The firm’s fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $8.61. Sunrun has a 12 month low of $5.45 and a 12 month high of $22.26.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. The business had revenue of $504.27 million for the quarter, compared to analysts’ expectations of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, analysts predict that Sunrun will post -0.43 EPS for the current year.

Insider Buying and Selling at Sunrun

In other news, Director Edward Harris Fenster acquired 50,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director now owns 1,408,182 shares in the company, valued at approximately $15,306,938.34. This represents a 3.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeanna Steele sold 9,942 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,540 shares of company stock worth $595,944. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. KLP Kapitalforvaltning AS purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $402,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $18,500,000. Charles Schwab Investment Management Inc. increased its stake in shares of Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after purchasing an additional 155,311 shares during the last quarter. Greenvale Capital LLP increased its stake in shares of Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $403,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.