Sunrun (NASDAQ:RUN) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Sunrun (NASDAQ:RUN) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

RUN has been the topic of a number of other reports. The Goldman Sachs Group reduced their price objective on shares of Sunrun from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Freedom Capital downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. UBS Group reduced their price objective on shares of Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Finally, Oppenheimer increased their price objective on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.63.

Sunrun Trading Up 6.0%

RUN stock opened at $13.46 on Monday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66. The company’s 50-day simple moving average is $13.25 and its 200 day simple moving average is $17.02. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a market capitalization of $3.17 billion, a PE ratio of 7.87 and a beta of 2.25.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $610.29 million. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. Sunrun’s revenue was up 123.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, sell-side analysts anticipate that Sunrun will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jeanna Steele sold 76,478 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the sale, the insider directly owned 384,538 shares in the company, valued at approximately $5,095,128.50. This trade represents a 16.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $12.89, for a total transaction of $644,500.00. Following the completion of the sale, the director owned 507,947 shares in the company, valued at approximately $6,547,436.83. The trade was a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 879,894 shares of company stock worth $12,732,496 in the last quarter. Corporate insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RUN. Farther Finance Advisors LLC raised its holdings in Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after buying an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Sunrun in the 4th quarter valued at approximately $27,000. Sycomore Asset Management bought a new position in Sunrun in the 3rd quarter valued at approximately $28,000. Hantz Financial Services Inc. raised its holdings in Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after buying an additional 564 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Sunrun in the 4th quarter valued at approximately $30,000. 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.