Sunrun (NASDAQ:RUN) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Sunrun (NASDAQ:RUN) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price target on the energy company’s stock.

Several other equities analysts also recently weighed in on RUN. BMO Capital Markets downgraded Sunrun from a “hold” rating to a “strong sell” rating and lowered their target price for the company from $9.00 to $4.00 in a research report on Thursday, May 22nd. Roth Capital set a $20.00 price objective on Sunrun in a research report on Friday, February 28th. Truist Financial restated a “hold” rating and issued a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Susquehanna lowered their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Finally, TD Cowen lowered their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus target price of $14.10.

Sunrun Price Performance

NASDAQ RUN opened at $8.28 on Tuesday. The company has a market capitalization of $1.89 billion, a PE ratio of -4.55 and a beta of 2.66. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The business’s fifty day moving average is $7.67 and its 200 day moving average is $8.59. Sunrun has a fifty-two week low of $5.45 and a fifty-two week high of $22.26.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. Sunrun’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. Sell-side analysts predict that Sunrun will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 31,197 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $210,267.78. Following the completion of the transaction, the chief executive officer now owns 534,615 shares in the company, valued at $3,603,305.10. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now owns 291,238 shares of the company’s stock, valued at $1,962,944.12. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,540 shares of company stock valued at $595,944 over the last ninety days. 3.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RUN. Janney Montgomery Scott LLC purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $118,000. Jennison Associates LLC boosted its position in shares of Sunrun by 36.7% during the fourth quarter. Jennison Associates LLC now owns 61,498 shares of the energy company’s stock valued at $569,000 after buying an additional 16,497 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Sunrun by 39.3% during the fourth quarter. Bleakley Financial Group LLC now owns 18,915 shares of the energy company’s stock valued at $175,000 after buying an additional 5,332 shares during the period. Empowered Funds LLC boosted its position in shares of Sunrun by 23.2% during the fourth quarter. Empowered Funds LLC now owns 13,734 shares of the energy company’s stock valued at $127,000 after buying an additional 2,588 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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.