Sunrun (NASDAQ:RUN) Upgraded 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 research report released on Saturday.

RUN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $17.00 target price on shares of Sunrun in a report on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday. Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Oppenheimer restated an “outperform” rating and set a $20.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.81.

Sunrun Trading Up 3.3%

RUN opened at $10.19 on Friday. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The company’s 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $13.84. Sunrun has a 1-year low of $8.61 and a 1-year high of $22.44. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 6.89 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 52.8% compared to the same quarter last year. Analysts expect that Sunrun will post 1.13 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the sale, the chief financial officer directly owned 420,318 shares in the company, valued at $5,543,994.42. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares in the company, valued at $3,659,353.80. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 223,045 shares of company stock worth $2,934,835 in the last 90 days. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in RUN. Dimensional Fund Advisors LP boosted its position in shares of Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after buying an additional 165,196 shares during the period. Invesco Ltd. grew its stake in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after buying an additional 1,231,628 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after buying an additional 205,627 shares during the period. Contour Asset Management LLC purchased a new stake in shares of Sunrun in the 4th quarter valued at $98,010,000. Finally, Voloridge Investment Management LLC lifted its stake in Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after acquiring an additional 1,100,666 shares in the last quarter. Hedge funds and other institutional investors 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.