BNP Paribas Upgrades Sunrun (NASDAQ:RUN) to Strong-Buy

Sunrun (NASDAQ:RUN - Get Free Report) was upgraded by research analysts at BNP Paribas from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Sunrun from a "hold" rating to an "underperform" rating and dropped their price objective for the company from $6.00 to $5.00 in a report on Wednesday, June 11th. Wells Fargo & Company reduced their price objective on Sunrun from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. The Goldman Sachs Group lifted their price objective on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 19th. BMO Capital Markets lowered Sunrun from a "hold" rating to a "strong sell" rating and reduced their price objective for the company from $9.00 to $4.00 in a research note on Thursday, May 22nd. Finally, Susquehanna lowered their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Sunrun has an average rating of "Hold" and an average target price of $13.97.

Sunrun Stock Down 6.5%

RUN traded down $0.71 on Monday, hitting $10.17. The company had a trading volume of 5,355,962 shares, compared to its average volume of 13,545,046. The stock has a fifty day moving average price of $8.67 and a 200-day moving average price of $8.22. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.26. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.99 and a current ratio of 1.32. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -0.84 and a beta of 2.60.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. Sunrun's revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. Analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 3,668 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $39,614.40. Following the completion of the transaction, the insider directly owned 439,620 shares of the company's stock, valued at approximately $4,747,896. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster acquired 50,000 shares of Sunrun stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the purchase, the director owned 1,408,182 shares in the company, valued at $15,306,938.34. The trade was a 3.68% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 41,939 shares of company stock worth $430,264 in the last three months. 3.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. Alyeska Investment Group L.P. grew its position in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock valued at $111,263,000 after purchasing an additional 10,294,947 shares in the last quarter. Greenvale Capital LLP raised its holdings in shares of Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. Sylebra Capital LLC raised its holdings in shares of Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after acquiring an additional 3,699,405 shares during the period. Norges Bank purchased a new position in shares of Sunrun during the 4th quarter worth $31,022,000. Finally, Maple Rock Capital Partners Inc. grew its stake in shares of Sunrun by 92.8% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock valued at $33,278,000 after buying an additional 1,732,000 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.