JPMorgan Chase & Co. Cuts Sunrun (NASDAQ:RUN) Price Target to $35.00

Sunrun (NASDAQ:RUN) had its price objective cut by JPMorgan Chase & Co. from $38.00 to $35.00 in a report released on Friday morning, Marketbeat Ratings reports. They currently have an overweight rating on the energy company’s stock.

A number of other research firms also recently weighed in on RUN. Janney Montgomery Scott raised shares of Sunrun from a neutral rating to a buy rating in a research report on Thursday, August 3rd. KeyCorp dropped their price target on shares of Sunrun from $27.00 to $24.00 and set an overweight rating on the stock in a research note on Thursday, August 17th. Guggenheim dropped their price target on shares of Sunrun from $37.00 to $34.00 and set a buy rating on the stock in a research note on Monday, July 24th. Citigroup upgraded shares of Sunrun from a neutral rating to a buy rating and dropped their price target for the stock from $25.00 to $21.00 in a research note on Wednesday, August 30th. Finally, Barclays dropped their price target on shares of Sunrun from $31.00 to $27.00 in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $33.60.

Sunrun Stock Down 6.4 %

Shares of Sunrun stock opened at $14.10 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $16.94 and its two-hundred day simple moving average is $18.19. The company has a market cap of $3.06 billion, a P/E ratio of 37.11 and a beta of 2.32. Sunrun has a 12-month low of $13.30 and a 12-month high of $37.92.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.59. The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $627.73 million. Sunrun had a net margin of 3.66% and a return on equity of 1.18%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Research analysts anticipate that Sunrun will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 2,476 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $37,511.40. Following the completion of the sale, the executive now directly owns 310,185 shares of the company’s stock, valued at approximately $4,699,302.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO Paul S. Dickson sold 2,476 shares of Sunrun stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total transaction of $37,511.40. Following the sale, the executive now owns 310,185 shares in the company, valued at $4,699,302.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward Harris Fenster sold 4,505 shares of Sunrun stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $20.00, for a total transaction of $90,100.00. Following the sale, the director now owns 1,258,325 shares in the company, valued at approximately $25,166,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,612 shares of company stock valued at $803,660. 3.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Large investors have recently bought and sold shares of the business. RFP Financial Group LLC increased its position in Sunrun by 153.8% in the second quarter. RFP Financial Group LLC now owns 1,650 shares of the energy company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Hartree Partners LP purchased a new position in Sunrun during the second quarter worth $32,000. Belpointe Asset Management LLC boosted its stake in Sunrun by 735.2% during the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock worth $43,000 after buying an additional 1,860 shares during the period. Salem Investment Counselors Inc. boosted its stake in Sunrun by 3,750.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after buying an additional 1,500 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Sunrun by 40.0% during the first quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock worth $62,000 after buying an additional 879 shares during the period. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.