Sunrun Inc. (NASDAQ:RUN) Downgraded to “Buy” at BidaskClub
Sunrun Inc. (NASDAQ:RUN) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Several other analysts also recently weighed in on the stock. Bank of America Corporation reaffirmed a “neutral” rating and issued a $8.00 target price (up previously from $7.75) on shares of Sunrun in a report on Thursday. Zacks Investment Research downgraded shares of Sunrun from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays PLC lifted their target price on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday. ValuEngine raised shares of Sunrun from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 target price on shares of Sunrun and gave the company a “buy” rating in a report on Tuesday, June 20th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Sunrun has an average rating of “Buy” and a consensus price target of $9.82.
Sunrun (NASDAQ RUN) traded up 1.121% during midday trading on Friday, reaching $6.765. 263,919 shares of the company’s stock traded hands. The company has a market capitalization of $718.18 million, a PE ratio of 8.684 and a beta of -0.69. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $5.77. Sunrun has a 1-year low of $4.15 and a 1-year high of $7.64.
Sunrun (NASDAQ:RUN) last issued its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $137.85 million for the quarter, compared to the consensus estimate of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Equities analysts expect that Sunrun will post $1.05 EPS for the current year.
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In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the sale, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.13% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock valued at $5,485,000 after buying an additional 113,016 shares during the period. Norges Bank acquired a new stake in shares of Sunrun during the fourth quarter valued at about $4,280,000. Teachers Advisors LLC increased its stake in shares of Sunrun by 24.6% in the fourth quarter. Teachers Advisors LLC now owns 126,161 shares of the energy company’s stock valued at $670,000 after buying an additional 24,909 shares during the period. DnB Asset Management AS increased its stake in shares of Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock valued at $25,631,000 after buying an additional 367,911 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Sunrun during the first quarter valued at about $653,000. 71.63% of the stock is currently owned by institutional investors.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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