Royal Bank of Canada Reaffirms Outperform Rating for Sunrun (NASDAQ:RUN)

Royal Bank of Canada restated their outperform rating on shares of Sunrun (NASDAQ:RUN - Free Report) in a report released on Tuesday,Benzinga reports. They currently have a $12.00 price target on the energy company's stock.

Other analysts have also recently issued research reports about the stock. Susquehanna dropped their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group dropped their price target on Sunrun from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Wednesday, May 28th. TD Cowen dropped their price target on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, February 28th. BNP Paribas lowered Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, BNP Paribas Exane cut Sunrun from an "outperform" rating to a "neutral" rating and set a $10.00 target price for the company. in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of "Hold" and a consensus target price of $14.10.

Sunrun Price Performance

NASDAQ:RUN traded up $0.22 during trading hours on Tuesday, hitting $8.38. 17,343,990 shares of the stock were exchanged, compared to its average volume of 11,928,193. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 52-week low of $5.45 and a 52-week high of $22.26. The company has a market cap of $1.91 billion, a P/E ratio of -4.60 and a beta of 2.66. The firm's fifty day moving average price is $7.77 and its 200 day moving average price is $8.58.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. During the same period in the previous year, the business earned ($0.40) earnings per share. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Activity

In other news, CRO Paul S. Dickson sold 19,343 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 9,942 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares of the company's stock, valued at $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,138 shares of company stock valued at $540,103. 3.37% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth raised its stake in Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company's stock valued at $74,000 after acquiring an additional 2,226 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Sunrun by 14.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company's stock valued at $4,458,000 after purchasing an additional 98,547 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Sunrun in the 1st quarter valued at about $87,000. Caxton Associates LLP purchased a new position in shares of Sunrun in the 1st quarter valued at about $2,045,000. Finally, Goldman Sachs Group Inc. increased its holdings in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock valued at $13,518,000 after buying an additional 718,955 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.