Zacks Investment Research Lowers Sunrun (RUN) to Hold

Zacks Investment Research downgraded shares of Sunrun (NASDAQ:RUN) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, 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. “

Several other research firms also recently commented on RUN. BidaskClub downgraded Sunrun from a buy rating to a hold rating in a research report on Saturday, March 16th. TheStreet downgraded Sunrun from a b- rating to a c+ rating in a research report on Friday, March 29th. ValuEngine upgraded Sunrun from a buy rating to a strong-buy rating in a research report on Friday, March 1st. Credit Suisse Group set a $24.00 price objective on Sunrun and gave the company a buy rating in a research report on Friday, March 1st. Finally, Bank of America reiterated a buy rating and issued a $23.50 price objective (up previously from $17.50) on shares of Sunrun in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $18.64.



Sunrun stock opened at $14.60 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 1.64. The company has a market cap of $1.70 billion, a P/E ratio of 63.48, a P/E/G ratio of 1.01 and a beta of 0.58. Sunrun has a one year low of $8.81 and a one year high of $17.44.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 8th. The energy company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.43). The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $152.90 million. Sunrun had a negative return on equity of 1.19% and a negative net margin of 1.88%. On average, equities research analysts forecast that Sunrun will post 1.18 EPS for the current fiscal year.

In other news, Chairman Edward Harris Fenster sold 40,534 shares of Sunrun stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $628,682.34. Following the completion of the sale, the chairman now directly owns 2,330,192 shares of the company’s stock, valued at approximately $36,141,277.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lynn Michelle Jurich sold 131,004 shares of Sunrun stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $2,099,994.12. Following the completion of the sale, the chief executive officer now directly owns 3,037,520 shares of the company’s stock, valued at $48,691,445.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 490,540 shares of company stock valued at $7,916,585. Corporate insiders own 9.34% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Neuberger Berman Group LLC increased its stake in shares of Sunrun by 881.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,517,568 shares of the energy company’s stock valued at $31,318,000 after buying an additional 2,260,933 shares during the period. Millennium Management LLC increased its stake in shares of Sunrun by 147.8% in the 4th quarter. Millennium Management LLC now owns 2,946,325 shares of the energy company’s stock valued at $32,085,000 after buying an additional 1,757,496 shares during the period. Norges Bank acquired a new stake in shares of Sunrun in the 4th quarter valued at $16,863,000. Dimensional Fund Advisors LP increased its stake in shares of Sunrun by 201.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock valued at $16,612,000 after buying an additional 1,019,554 shares during the period. Finally, Morgan Stanley increased its stake in shares of Sunrun by 104.8% in the 3rd quarter. Morgan Stanley now owns 1,371,638 shares of the energy company’s stock valued at $17,064,000 after buying an additional 701,745 shares during the period. 84.91% of the stock is owned by institutional investors.

Sunrun Company Profile

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, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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