Sunrun (NASDAQ:RUN) Cut to “Equal Weight” at Barclays

Sunrun (NASDAQ:RUNGet Rating) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Sunrun from $72.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Janney Montgomery Scott started coverage on shares of Sunrun in a report on Thursday, December 1st. They issued a “neutral” rating and a $30.00 price target for the company. Northland Securities started coverage on shares of Sunrun in a report on Wednesday, September 28th. They issued an “outperform” rating and a $60.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Sunrun from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, November 3rd. Finally, Wolfe Research cut shares of Sunrun from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and a consensus target price of $43.06.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $26.09 on Wednesday. Sunrun has a twelve month low of $16.80 and a twelve month high of $39.13. The firm has a fifty day simple moving average of $27.89 and a 200 day simple moving average of $28.64. The company has a market capitalization of $5.56 billion, a PE ratio of 89.97 and a beta of 2.26. The company has a quick ratio of 1.19, a current ratio of 1.74 and a debt-to-equity ratio of 1.09.

Sunrun (NASDAQ:RUNGet Rating) last announced its earnings results on Wednesday, November 2nd. The energy company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.97. Sunrun had a net margin of 3.35% and a return on equity of 1.23%. The business had revenue of $631.91 million during the quarter, compared to the consensus estimate of $542.20 million. On average, sell-side analysts forecast that Sunrun will post 0.48 EPS for the current year.

Insider Activity

In related news, CEO Mary Powell sold 1,896 shares of the business’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $31.21, for a total transaction of $59,174.16. Following the transaction, the chief executive officer now directly owns 189,294 shares in the company, valued at $5,907,865.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CRO Paul S. Dickson sold 2,029 shares of the business’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $29.43, for a total transaction of $59,713.47. Following the transaction, the executive now directly owns 161,036 shares in the company, valued at $4,739,289.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary Powell sold 1,896 shares of the business’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $31.21, for a total transaction of $59,174.16. Following the transaction, the chief executive officer now owns 189,294 shares in the company, valued at $5,907,865.74. The disclosure for this sale can be found here. Insiders sold 276,143 shares of company stock worth $7,387,001 over the last three months. 4.29% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in Sunrun by 64.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,149 shares of the energy company’s stock worth $28,000 after acquiring an additional 449 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Sunrun in the second quarter worth about $31,000. Salem Investment Counselors Inc. raised its position in Sunrun by 3,750.0% in the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after acquiring an additional 1,500 shares during the period. CWM LLC raised its position in Sunrun by 92.0% in the second quarter. CWM LLC now owns 1,622 shares of the energy company’s stock worth $38,000 after acquiring an additional 777 shares during the period. Finally, RFP Financial Group LLC bought a new stake in Sunrun in the fourth quarter worth about $40,000. Institutional investors own 86.21% of the company’s stock.

About Sunrun

(Get Rating)

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; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

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