Sunrun (NASDAQ:RUN) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sunrun from “Sell” to “Hold,” while the broader analyst consensus remains “Hold,” with 12 Buy, seven Hold, and two Sell ratings and an average price target of $14.98.
• Sunrun shares opened at $7.30, near their 52-week low of $7.17 and well below the 52-week high of $21.95; several analysts recently reduced their price targets, including Morgan Stanley to $10 and Goldman Sachs to $11.
• The company’s latest quarterly results exceeded expectations, with adjusted earnings of $0.42 per share versus a $0.23 consensus estimate and revenue of $869.99 million, up 52.8% year over year.

Sunrun (NASDAQ:RUN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

RUN has been the subject of several other reports. Weiss Ratings raised Sunrun from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, October 9th. Citigroup dropped their target price on Sunrun from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Morgan Stanley cut their target price on Sunrun from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Susquehanna cut their target price on Sunrun from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price target on Sunrun from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Twelve equities 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.98.

Sunrun Stock Down 4.5%

Sunrun stock opened at $7.30 on Friday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 4.93 and a beta of 2.44. The firm's fifty day moving average price is $8.57 and its two-hundred day moving average price is $11.35. Sunrun has a 1-year low of $7.17 and a 1-year high of $21.95. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm's revenue for the quarter was up 52.8% on a year-over-year basis. On average, equities research analysts predict that Sunrun will post 1.46 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 24,335 shares of the business's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $188,839.60. Following the transaction, the chief executive officer directly owned 1,087,200 shares in the company, valued at approximately $8,436,672. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 company's stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $122,895.12. Following the completion of the sale, the executive directly owned 823,702 shares of the company's stock, valued at $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 118,719 shares of company stock valued at $1,031,277 over the last three months. Insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE bought a new stake in shares of Sunrun in the second quarter valued at approximately $29,953,000. Bank of New York Mellon Corp bought a new position in Sunrun in the 2nd quarter worth approximately $18,120,000. Amundi boosted its holdings in Sunrun by 56.3% in the 1st quarter. Amundi now owns 3,300,626 shares of the energy company's stock worth $44,798,000 after buying an additional 1,188,564 shares during the period. Deutsche Bank AG purchased a new position in Sunrun in the 2nd quarter valued at approximately $12,483,000. Finally, Diversify Advisory Services LLC purchased a new position in Sunrun in the 2nd quarter valued at approximately $8,254,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.

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