Sunrun (NASDAQ:RUN) Price Target Cut to $70.00 by Analysts at Morgan Stanley

Sunrun (NASDAQ:RUN – Get Rating) had its price target dropped by investment analysts at Morgan Stanley from $89.00 to $70.00 in a note issued to investors on Monday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the energy company’s stock. Morgan Stanley’s target price indicates a potential upside of 206.61% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research report on Tuesday, February 15th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $44.00 price target on shares of Sunrun in a research report on Saturday, February 19th. Wolfe Research dropped their price target on Sunrun from $50.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. Evercore ISI reaffirmed a “buy” rating and set a $75.00 price target on shares of Sunrun in a research report on Friday, February 18th. Finally, BMO Capital Markets dropped their price target on Sunrun from $57.00 to $42.00 in a research report on Friday, February 18th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.67.

NASDAQ:RUN traded down $3.01 during mid-day trading on Monday, hitting $22.83. The company had a trading volume of 214,241 shares, compared to its average volume of 7,421,187. Sunrun has a fifty-two week low of $16.80 and a fifty-two week high of $60.60. The business’s fifty day moving average is $24.11 and its two-hundred day moving average is $28.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.08 and a current ratio of 1.60. The firm has a market cap of $4.80 billion, a P/E ratio of -32.70 and a beta of 2.22.

Sunrun (NASDAQ:RUN – Get Rating) last released its earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.38). Sunrun had a negative net margin of 8.10% and a negative return on equity of 1.64%. The company had revenue of $495.78 million during the quarter, compared to analyst estimates of $401.60 million. During the same period in the previous year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 48.1% compared to the same quarter last year. Equities analysts forecast that Sunrun will post -1 earnings per share for the current year.

In other news, insider Jeanna Steele sold 2,131 shares of Sunrun stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $26.78, for a total transaction of $57,068.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Arthur Vonreichbauer sold 5,089 shares of Sunrun stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $22.91, for a total value of $116,588.99. Following the transaction, the chief financial officer now owns 231,502 shares of the company’s stock, valued at $5,303,710.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,428 shares of company stock valued at $949,294. Corporate insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. bought a new stake in Sunrun in the 1st quarter valued at $732,000. OLD Mission Capital LLC bought a new stake in Sunrun in the 3rd quarter valued at $858,000. Dimensional Fund Advisors LP boosted its stake in Sunrun by 18.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,660,346 shares of the energy company’s stock valued at $73,039,000 after purchasing an additional 259,619 shares during the period. Dark Forest Capital Management LP bought a new stake in Sunrun in the 3rd quarter valued at $84,000. Finally, FIL Ltd boosted its stake in Sunrun by 135.2% in the 3rd quarter. FIL Ltd now owns 119,618 shares of the energy company’s stock valued at $5,263,000 after purchasing an additional 68,767 shares during the period. Institutional investors own 90.54% of the company’s stock.

Sunrun Company Profile (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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