Sunrun Inc. (RUN) Downgraded by BidaskClub
BidaskClub cut shares of Sunrun Inc. (NASDAQ:RUN) from a hold rating to a sell rating in a research note released on Tuesday.
Several other brokerages have also commented on RUN. Zacks Investment Research lowered Sunrun from a buy rating to a hold rating in a research note on Wednesday, August 9th. Barclays PLC upped their price target on Sunrun from $6.00 to $8.00 and gave the company an overweight rating in a research note on Tuesday, August 8th. Bank of America Corporation reaffirmed a neutral rating and issued a $8.00 price target (up previously from $7.75) on shares of Sunrun in a research note on Thursday, August 10th. ValuEngine raised Sunrun from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 price target on Sunrun and gave the company a buy rating in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Sunrun has a consensus rating of Buy and a consensus target price of $9.15.
Shares of Sunrun (RUN) opened at 5.52 on Tuesday. The company’s 50-day moving average price is $5.90 and its 200 day moving average price is $5.90. The stock has a market cap of $586.01 million, a price-to-earnings ratio of 7.09 and a beta of -0.71. Sunrun has a 12-month low of $4.15 and a 12-month high of $7.20.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The business had revenue of $137.85 million for the quarter, compared to analyst estimates of $143.35 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that Sunrun will post $0.97 earnings per share for the current year.
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In related news, Chairman Edward Harris Fenster sold 115,094 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was 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 in the company, valued at approximately $16,173,213.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Vassallo sold 33,576 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.16, for a total value of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. purchased a new stake in shares of Sunrun in the 2nd quarter valued at $112,000. Citigroup Inc. raised its holdings in shares of Sunrun by 760.3% in the 2nd quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock valued at $133,000 after buying an additional 16,507 shares during the period. Legal & General Group Plc raised its holdings in shares of Sunrun by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock valued at $141,000 after buying an additional 2,768 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of Sunrun by 30.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock valued at $159,000 after buying an additional 5,134 shares during the period. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Sunrun in the 2nd quarter valued at $195,000. Hedge funds and other institutional investors own 73.95% of the company’s stock.
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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