Sunrun (NASDAQ:RUN) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of Sunrun (NASDAQ:RUN) from a buy rating to a hold rating in a report released on Wednesday, ValuEngine reports.

RUN has been the subject of several other reports. KeyCorp started coverage on Sunrun in a research report on Monday, August 19th. They issued an overweight rating and a $19.00 price objective for the company. BidaskClub raised Sunrun from a hold rating to a buy rating in a research report on Tuesday, September 17th. Goldman Sachs Group raised Sunrun from a neutral rating to a buy rating and set a $20.00 price objective for the company in a research report on Monday, June 17th. Finally, Zacks Investment Research raised Sunrun from a strong sell rating to a hold rating in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $21.36.

Shares of RUN traded up $0.45 during mid-day trading on Wednesday, hitting $16.22. The company’s stock had a trading volume of 999,279 shares, compared to its average volume of 1,846,138. Sunrun has a one year low of $8.81 and a one year high of $21.42. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.69 and a current ratio of 0.83. The firm has a market capitalization of $1.85 billion, a PE ratio of 70.52, a price-to-earnings-growth ratio of 6.31 and a beta of 0.76. The stock’s 50-day moving average is $15.82 and its two-hundred day moving average is $16.65.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.18). Sunrun had a negative net margin of 2.84% and a negative return on equity of 1.89%. The business had revenue of $204.60 million during the quarter, compared to the consensus estimate of $198.78 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. Analysts expect that Sunrun will post 0.5 EPS for the current fiscal year.

In other news, major shareholder Global Long Opportunitie Tiger bought 650,000 shares of Sunrun stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $15.06 per share, with a total value of $9,789,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tiger Global Management Llc bought 312,954 shares of Sunrun stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $14.98 per share, with a total value of $4,688,050.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,427,429 shares of company stock valued at $85,388,205 and sold 29,612 shares valued at $539,767. 9.34% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. BSW Wealth Partners acquired a new position in Sunrun during the second quarter worth $114,000. Hershey Trust Co. acquired a new position in Sunrun during the second quarter worth $126,000. Rehmann Capital Advisory Group raised its stake in Sunrun by 222.9% during the first quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock worth $172,000 after acquiring an additional 8,446 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Sunrun during the second quarter worth $224,000. Finally, Bank of Montreal Can raised its stake in Sunrun by 301.5% during the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock worth $243,000 after acquiring an additional 9,745 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

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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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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