Sunrun (NASDAQ:RUN) Stock Rating Lowered by Zacks Investment Research

Sunrun (NASDAQ:RUNGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Sunrun from $86.00 to $69.00 in a report on Thursday, January 20th. Wolfe Research decreased their target price on shares of Sunrun from $50.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 18th. Susquehanna reaffirmed a “buy” rating and issued a $44.00 target price on shares of Sunrun in a research report on Friday, February 18th. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research report on Tuesday, February 15th. Finally, Morgan Stanley decreased their target price on shares of Sunrun from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $60.33.

Shares of NASDAQ:RUN opened at $24.34 on Thursday. Sunrun has a 12 month low of $18.61 and a 12 month high of $60.60. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $27.20 and its 200 day simple moving average is $34.63. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -60.85 and a beta of 2.24.

Sunrun (NASDAQ:RUNGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The energy company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.38). Sunrun had a negative return on equity of 0.70% and a negative net margin of 4.93%. The company had revenue of $495.78 million for the quarter, compared to analyst estimates of $401.60 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The company’s revenue was up 48.1% on a year-over-year basis. Research analysts expect that Sunrun will post -0.42 earnings per share for the current fiscal year.

In other Sunrun news, insider Jeanna Steele sold 4,655 shares of Sunrun stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $26.25, for a total value of $122,193.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Arthur Vonreichbauer sold 4,271 shares of Sunrun stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $24.42, for a total transaction of $104,297.82. The disclosure for this sale can be found here. Insiders have sold a total of 41,930 shares of company stock valued at $1,213,056 in the last ninety days. 4.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. IndexIQ Advisors LLC raised its stake in Sunrun by 309.6% in the 3rd quarter. IndexIQ Advisors LLC now owns 770 shares of the energy company’s stock worth $34,000 after purchasing an additional 582 shares in the last quarter. CWM LLC raised its stake in Sunrun by 512.3% in the 1st quarter. CWM LLC now owns 845 shares of the energy company’s stock worth $26,000 after purchasing an additional 707 shares in the last quarter. Clearstead Advisors LLC raised its stake in Sunrun by 743.6% in the 1st quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock worth $28,000 after purchasing an additional 818 shares in the last quarter. Fifth Third Bancorp raised its stake in Sunrun by 120.6% in the 1st quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Sunrun by 84.7% in the 4th quarter. Signaturefd LLC now owns 1,125 shares of the energy company’s stock worth $39,000 after purchasing an additional 516 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

About Sunrun (Get Rating)

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.

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