Sunrun (NASDAQ:RUN) Upgraded 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 Sunday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on RUN. Wells Fargo & Company cut their price target on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Susquehanna reduced their price objective on Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a research report on Wednesday, October 14th. Citigroup lowered their price objective on Sunrun from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Mizuho set a $18.00 target price on Sunrun in a research report on Thursday, August 6th. Finally, Glj Research reaffirmed a “sell” rating and issued a $4.63 target price on shares of Sunrun in a research report on Monday, August 17th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.39.

Sunrun Price Performance

RUN opened at $7.57 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The company’s 50-day moving average price is $8.46 and its 200 day moving average price is $11.25. Sunrun has a fifty-two week low of $6.78 and a fifty-two week high of $21.95. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 5.11 and a beta of 2.44.

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

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 24,335 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $188,839.60. Following the completion of the transaction, the chief executive officer directly owned 1,087,200 shares of the company’s stock, valued at $8,436,672. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul Dickson sold 15,837 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $122,895.12. Following the transaction, the executive owned 823,702 shares of the company’s stock, valued at $6,391,927.52. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 118,719 shares of company stock valued at $1,031,277. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Sunrun during the 3rd quarter worth $655,000. Diversify Advisory Services LLC raised its position in shares of Sunrun by 4.5% during the third quarter. Diversify Advisory Services LLC now owns 863,964 shares of the energy company’s stock worth $6,601,000 after purchasing an additional 36,887 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of Sunrun during the third quarter valued at $80,000. Vontobel Holding Ltd. lifted its holdings in shares of Sunrun by 77.5% during the third quarter. Vontobel Holding Ltd. now owns 195,585 shares of the energy company’s stock valued at $1,520,000 after purchasing an additional 85,369 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Sunrun by 33.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 40,264 shares of the energy company’s stock valued at $313,000 after purchasing an additional 10,014 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.