JPMorgan Chase & Co. Cuts Sunrun (NASDAQ:RUN) Price Target to $22.00

Sunrun (NASDAQ:RUN) had its price target trimmed by JPMorgan Chase & Co. from $25.00 to $22.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

RUN has been the topic of several other research reports. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Freedom Capital lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft cut their price target on Sunrun from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Oppenheimer increased their price target on Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, The Goldman Sachs Group cut their price target on Sunrun from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.19.

Sunrun Stock Up 2.5%

Shares of NASDAQ:RUN opened at $12.40 on Thursday. The business’s 50 day simple moving average is $14.64 and its two-hundred day simple moving average is $17.53. The firm has a market cap of $2.92 billion, a P/E ratio of 7.25 and a beta of 2.37. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The company’s quarterly revenue was up 123.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, research analysts forecast that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CRO Paul S. Dickson sold 127,673 shares of Sunrun stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,691,667.25. Following the completion of the sale, the executive owned 707,126 shares of the company’s stock, valued at approximately $9,369,419.50. This trade represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Sunrun stock in a transaction on 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 sale, the chief executive officer directly owned 934,282 shares of the company’s stock, valued at $12,379,236.50. This represents 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. Over the last ninety days, insiders sold 879,894 shares of company stock valued at $13,017,496. 3.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently added to or reduced their stakes in RUN. Contour Asset Management LLC bought a new stake in Sunrun during the fourth quarter worth about $98,010,000. Norges Bank bought a new stake in Sunrun during the fourth quarter worth about $62,169,000. Voloridge Investment Management LLC bought a new stake in Sunrun during the third quarter worth about $40,193,000. Robeco Schweiz AG bought a new stake in Sunrun during the third quarter worth about $36,969,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Sunrun by 132.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock worth $48,777,000 after purchasing an additional 1,609,803 shares during the last quarter. 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.