Mizuho Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its target price cut by stock analysts at Mizuho from $25.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s price target suggests a potential upside of 66.04% from the stock’s previous close.

Several other research firms have also recently weighed in on RUN. Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, November 10th. Morgan Stanley lifted their target price on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company upped their price target on Sunrun from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. TD Cowen raised their price objective on Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Sunrun in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.15.

Sunrun Stock Performance

NASDAQ RUN opened at $13.25 on Monday. 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 stock’s fifty day moving average is $19.12 and its two-hundred day moving average is $18.40. The firm has a market capitalization of $3.07 billion, a P/E ratio of 7.75 and a beta of 2.36. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.46. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 123.5% compared to the same quarter last year. On average, research analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $19.28, for a total value of $964,000.00. Following the completion of the transaction, the director owned 701,175 shares in the company, valued at approximately $13,518,654. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 6,119 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $108,918.20. Following the sale, the executive directly owned 639,110 shares in the company, valued at approximately $11,376,158. The trade was a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 468,800 shares of company stock worth $8,925,020 over the last 90 days. 3.37% of the stock is owned by insiders.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Sunrun in the fourth quarter worth approximately $1,046,000. Invesco Ltd. raised its holdings in shares of Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after purchasing an additional 1,231,628 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Sunrun during the 4th quarter worth $2,233,000. Empowered Funds LLC acquired a new position in shares of Sunrun during the fourth quarter worth $304,000. Finally, Zacks Investment Management grew its stake in shares of Sunrun by 4.2% during the fourth quarter. Zacks Investment Management now owns 148,082 shares of the energy company’s stock worth $2,725,000 after purchasing an additional 6,026 shares in the last quarter. 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.