Sunrun (NASDAQ:RUN) Cut to “Sector Perform” at Royal Bank Of Canada

Sunrun (NASDAQ:RUN) was downgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday, MarketBeat reports. They presently have a $5.00 price target on the energy company’s stock, down from their previous price target of $12.00. Royal Bank Of Canada’s price target points to a potential downside of 18.43% from the company’s current price.

A number of other research firms also recently issued reports on RUN. Wall Street Zen downgraded shares of Sunrun from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. BMO Capital Markets cut shares of Sunrun from a “hold” rating to a “strong sell” rating and dropped their price objective for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. KeyCorp reissued an “underweight” rating and set a $6.00 price objective on shares of Sunrun in a research note on Tuesday. TD Cowen dropped their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Roth Capital set a $20.00 price objective on shares of Sunrun in a research note on Friday, February 28th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.43.

Sunrun Price Performance

RUN stock opened at $6.13 on Wednesday. The firm has a 50 day moving average of $8.10 and a 200-day moving average of $8.41. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.26. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -0.51 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same period last year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares of the company’s stock, valued at $1,962,944.12. The trade was a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward Harris Fenster acquired 50,000 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the purchase, the director now directly owns 1,408,182 shares in the company, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 88,993 shares of company stock valued at $612,979. Company insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun during the 4th quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of Sunrun during the 4th quarter valued at $53,000. Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun during the 4th quarter valued at $56,000. Apollon Wealth Management LLC acquired a new position in shares of Sunrun during the 1st quarter valued at $60,000. Finally, US Bancorp DE lifted its holdings in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after acquiring an additional 5,342 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

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.