Sunrun (NASDAQ:RUN) Receives "Sell" Rating from Glj Research

Key Points

• GLJ Research reaffirmed a “sell” rating on Sunrun, with a $4.63 price target implying 54.56% downside from the stock’s $10.19 opening price.
• Analyst opinion remains mixed: 12 analysts rate Sunrun a buy, eight recommend holding, and two recommend selling, resulting in a consensus “hold” rating and $16.81 average price target.
• Sunrun exceeded quarterly expectations, reporting $0.42 in adjusted earnings per share versus $0.23 expected and $869.99 million in revenue, up 52.8% year over year.

Sunrun (NASDAQ:RUN - Get Free Report)'s stock had its "sell" rating reaffirmed by investment analysts at Glj Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $4.63 target price on the energy company's stock. Glj Research's price target would indicate a potential downside of 54.56% from the company's current price.

Several other analysts have also issued reports on RUN. UBS Group decreased their price target on shares of Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Roth Capital reiterated a "buy" rating on shares of Sunrun in a research report on Thursday, July 9th. TD Cowen decreased their price objective on Sunrun from $21.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Wells Fargo & Company dropped their price objective on Sunrun from $22.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Susquehanna cut their price target on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating for the company in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunrun currently has a consensus rating of "Hold" and a consensus price target of $16.81.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $10.19 on Monday. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The company's fifty day moving average price is $11.79 and its 200 day moving average price is $13.79. Sunrun has a 12 month low of $8.61 and a 12 month high of $22.44. The firm has a market capitalization of $2.45 billion, a P/E ratio of 6.89 and a beta of 2.36.

Sunrun (NASDAQ:RUN - Get Free Report) last posted 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 net margin of 11.59% and a return on equity of 9.59%. The company's revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 earnings per share. As a group, sell-side analysts predict that Sunrun will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, insider Jeanna Steele sold 9,897 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the sale, the insider owned 461,715 shares in the company, valued at $6,090,020.85. The trade was a 2.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 23,985 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, the chief executive officer directly owned 1,111,535 shares in the company, valued at approximately $14,661,146.65. The trade was 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 have sold a total of 223,045 shares of company stock valued at $2,934,835 over the last ninety days. Company insiders own 3.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock worth $88,375,000 after buying an additional 165,196 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company's stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock worth $104,220,000 after acquiring an additional 205,627 shares during the last quarter. Contour Asset Management LLC purchased a new position in shares of Sunrun in the fourth quarter worth $98,010,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Sunrun by 47.3% during 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 in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

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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