Zacks Research Downgrades Sunrun (NASDAQ:RUN) to Hold

Sunrun (NASDAQ:RUN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Barclays cut their price objective on Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Susquehanna cut their price objective on Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Mizuho cut their price objective on Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Finally, Jefferies Financial Group cut their price objective on Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.48.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $14.85 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. Sunrun has a 1 year low of $5.38 and a 1 year high of $22.44. The business has a fifty day simple moving average of $13.56 and a 200 day simple moving average of $16.24. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 6.97 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to analyst estimates of $688.50 million. During the same period last year, the company earned $0.20 earnings per share. Sunrun’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sunrun will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 193,002 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the transaction, the chief executive officer directly owned 934,282 shares in the company, valued at $12,379,236.50. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 127,673 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,691,667.25. Following the transaction, the executive owned 707,126 shares in the company, valued at approximately $9,369,419.50. This trade represents a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 698,868 shares of company stock valued at $9,412,016. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of Sunrun by 74.7% in the first quarter. Bank of America Corp DE now owns 2,054,524 shares of the energy company’s stock valued at $27,859,000 after purchasing an additional 878,319 shares during the last quarter. Amundi increased its stake in shares of Sunrun by 56.3% in the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after purchasing an additional 1,188,564 shares during the period. California State Teachers Retirement System increased its stake in shares of Sunrun by 22.4% in the first quarter. California State Teachers Retirement System now owns 267,162 shares of the energy company’s stock worth $3,623,000 after purchasing an additional 48,965 shares during the period. Empowered Funds LLC increased its stake in shares of Sunrun by 26.3% in the first quarter. Empowered Funds LLC now owns 20,856 shares of the energy company’s stock worth $283,000 after purchasing an additional 4,342 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sunrun by 3.9% in the first quarter. The Manufacturers Life Insurance Company now owns 149,359 shares of the energy company’s stock worth $2,025,000 after purchasing an additional 5,545 shares during the period. 91.69% of the stock is currently owned by institutional investors.

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.