Sunrun Inc. (NASDAQ:RUN) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts give Sunrun a consensus “Hold” rating from 23 covers (1 sell, 10 hold, 12 buy) with an average 1‑year target price of $18.63.
• Insiders sold large positions (including CEO Mary Powell and Jeanna Steele) on April 6 to cover tax withholdings, contributing to 879,894 shares sold by insiders in the last 90 days worth about $13.0M; insiders now own 3.37% of the stock.
• Sunrun reported a strong quarter, beating estimates with EPS of $0.38 vs. ($0.08) expected and revenue of $1.16B vs. $610M expected (revenue up 123.5% year‑over‑year); the company has a market cap of $3.05B and a P/E of 7.58.

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty-three analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.6315.

A number of equities analysts have commented on the stock. Zacks Research cut shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 27th. Susquehanna dropped their price objective on shares of Sunrun from $24.00 to $19.00 and set a "positive" rating for the company in a research note on Thursday, April 9th. Mizuho dropped their price objective on shares of Sunrun from $25.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, March 2nd. UBS Group dropped their price objective on shares of Sunrun from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Finally, Wall Street Zen cut shares of Sunrun from a "hold" rating to a "sell" rating in a research note on Saturday.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 76,478 shares of Sunrun stock in a transaction 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 completion of the transaction, the insider directly owned 384,538 shares of the company's stock, valued at $5,095,128.50. This trade represents a 16.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of Sunrun stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the completion of the transaction, the chief executive officer directly owned 934,282 shares of the company's stock, valued at $12,379,236.50. The trade was a 17.12% 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. Over the last ninety days, insiders sold 879,894 shares of company stock worth $13,017,496. Insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently made changes to their positions in RUN. Contour Asset Management LLC purchased a new position in shares of Sunrun during the 4th quarter worth about $98,010,000. Norges Bank purchased a new position in shares of Sunrun during the 4th quarter worth about $62,169,000. Voloridge Investment Management LLC purchased a new position in shares of Sunrun during the 3rd quarter worth about $40,193,000. Robeco Schweiz AG purchased a new position in shares of Sunrun during the 3rd quarter worth about $36,969,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Sunrun by 132.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company's stock worth $48,777,000 after purchasing an additional 1,609,803 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $12.97 on Wednesday. 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 has a market cap of $3.05 billion, a P/E ratio of 7.58 and a beta of 2.37. The firm's fifty day moving average is $13.69 and its two-hundred day moving average is $17.20. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.46. The company 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 for the quarter was up 123.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. As a group, analysts anticipate that Sunrun will post 0.47 EPS for the current fiscal year.

About Sunrun

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.

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