Sunrun (NASDAQ:RUN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Sunrun from “hold” to “sell.” Analyst views remain mixed: the consensus is “Moderate Buy,” based on 11 Buy, 8 Hold, and 1 Sell ratings, with an average price target of $13.04.
• Recent analyst actions included Wells Fargo cutting its price target to $14 while maintaining an “overweight” rating, and Barclays lowering its target to $12 with an “equal weight” rating.
• Sunrun beat quarterly earnings and revenue estimates, reporting EPS of $0.56 versus $0.16 expected and revenue of $1.10 billion, up 51.7% year over year.

Sunrun (NASDAQ:RUN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on RUN. Wells Fargo & Company decreased their target price on shares of Sunrun from $17.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday. The Goldman Sachs Group restated a "buy" rating on shares of Sunrun in a research report on Thursday, November 5th. Weiss Ratings upgraded shares of Sunrun from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $7.00 price objective on shares of Sunrun in a report on Friday, October 9th. Finally, Barclays decreased their price objective on shares of Sunrun from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Friday, October 9th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.04.

Sunrun Stock Up 1.3%

Shares of RUN stock opened at $8.63 on Friday. The stock has a 50 day moving average of $8.15 and a 200 day moving average of $11.99. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 3.22. The stock has a market cap of $2.09 billion, a P/E ratio of 4.36 and a beta of 2.35. Sunrun has a twelve month low of $6.78 and a twelve month high of $21.95.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.16 by $0.40. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $757.53 million. Sunrun had a return on equity of 12.31% and a net margin of 14.01%. The business's quarterly revenue was up 51.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, sell-side analysts expect that Sunrun will post 1.76 EPS for the current year.

Insider Buying and Selling at Sunrun

In related news, insider Jeanna Steele sold 10,042 shares of Sunrun stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $77,925.92. Following the sale, the insider owned 451,673 shares of the company's stock, valued at approximately $3,504,982.48. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,256 shares of Sunrun stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $9.35, for a total transaction of $30,443.60. Following the completion of the sale, the chief accounting officer directly owned 85,006 shares in the company, valued at $794,806.10. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 71,975 shares of company stock worth $563,721. 3.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Amundi raised its holdings in shares of Sunrun by 56.3% during the first quarter. Amundi now owns 3,300,626 shares of the energy company's stock valued at $44,798,000 after acquiring an additional 1,188,564 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sunrun in the second quarter valued at approximately $18,120,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sunrun in the second quarter valued at approximately $4,210,000. EP Wealth Advisors LLC purchased a new position in shares of Sunrun in the second quarter valued at approximately $1,960,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sunrun in the second quarter worth approximately $29,953,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.

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