Sunrun (NASDAQ:RUN) Cut to Hold at Freedom Capital

Freedom Capital downgraded shares of Sunrun (NASDAQ:RUN) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group boosted their price target on Sunrun from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday. Guggenheim raised Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft set a $19.00 price objective on Sunrun in a research report on Wednesday, January 7th. Finally, Mizuho reduced their target price on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $19.84.

Sunrun Trading Down 3.1%

Shares of NASDAQ:RUN opened at $11.79 on Tuesday. The stock’s 50-day simple moving average is $18.49 and its two-hundred day simple moving average is $18.31. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 6.89 and a beta of 2.43. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.46. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $610.29 million. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The business’s quarterly revenue was up 123.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. Analysts expect that Sunrun will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In other news, CAO Maria Barak sold 1,630 shares of Sunrun stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.55, for a total transaction of $30,236.50. Following the sale, the chief accounting officer owned 85,643 shares in the company, valued at $1,588,677.65. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 5,357 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.33, for a total transaction of $66,051.81. Following the completion of the transaction, the chief executive officer directly owned 1,130,180 shares in the company, valued at $13,935,119.40. This trade represents a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 402,726 shares of company stock worth $7,359,546 in the last three months. Corporate insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Sunrun by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock valued at $418,300,000 after purchasing an additional 288,945 shares during the last quarter. PGGM Investments lifted its position in shares of Sunrun by 17.8% in the third quarter. PGGM Investments now owns 8,256,941 shares of the energy company’s stock worth $142,763,000 after buying an additional 1,249,683 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Sunrun by 95.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after buying an additional 3,974,464 shares during the last quarter. Invesco Ltd. grew its holdings in Sunrun by 26.6% during the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after buying an additional 1,231,628 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after acquiring an additional 205,627 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

About Sunrun

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.