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

Key Points

• Wall Street Zen upgraded Sunrun from “Sell” to “Hold.” Overall analyst sentiment is mixed, with 12 Buy, 8 Hold and 2 Sell ratings and a consensus price target of $16.81.
• Sunrun reported quarterly EPS of $0.42, beating estimates of $0.23, while revenue reached $869.99 million, up 52.8% year over year and above expectations.
• Shares opened at $10.19, near the lower end of their 12-month range of $8.61 to $22.44. Institutional investors own 91.69% of the company, while insiders sold 223,045 shares worth approximately $2.93 million over the past 90 days.

Sunrun (NASDAQ:RUN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities analysts also recently issued reports on RUN. Roth Capital reaffirmed a "buy" rating on shares of Sunrun in a report on Thursday, July 9th. Susquehanna cut their target price on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group cut their target price on shares of Sunrun from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Citigroup reduced their price target on shares of Sunrun from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Mizuho set a $18.00 price target on shares of Sunrun in a research note on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Sunrun presently has an average rating of "Hold" and a consensus price target of $16.81.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $10.19 on Friday. Sunrun has a twelve month low of $8.61 and a twelve month high of $22.44. The company's 50 day moving average is $11.79 and its 200 day moving average is $13.84. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The company has a market cap of $2.45 billion, a PE ratio of 6.89 and a beta of 2.35.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The company's revenue was up 52.8% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, sell-side analysts forecast that Sunrun will post 1.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the completion of the sale, the director directly owned 459,091 shares of the company's stock, valued at approximately $7,308,728.72. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of Sunrun stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the sale, the chief executive officer owned 1,111,535 shares of the company's stock, valued at approximately $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 223,045 shares of company stock valued at $2,934,835 in the last ninety days. Company insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Sunrun by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock valued at $88,375,000 after acquiring an additional 165,196 shares during the period. Invesco Ltd. increased its stake in Sunrun by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company's stock worth $107,975,000 after purchasing an additional 1,231,628 shares during the period. Geode Capital Management LLC lifted its position in shares of Sunrun by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock worth $104,220,000 after purchasing an additional 205,627 shares in the last quarter. Contour Asset Management LLC purchased a new position in shares of Sunrun in the fourth quarter valued at approximately $98,010,000. Finally, Voloridge Investment Management LLC boosted its stake in shares of Sunrun by 47.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company's stock valued at $63,025,000 after purchasing an additional 1,100,666 shares during the period. Institutional investors and hedge funds 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.

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