Sunrun (NASDAQ:RUN) Upgraded by Zacks Research to “Strong-Buy” Rating

Sunrun (NASDAQ:RUN) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Sunrun from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. UBS Group lowered their price target on shares of Sunrun from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Citigroup cut their price objective on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sunrun from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Finally, Glj Research restated a “sell” rating and set a $4.63 target price on shares of Sunrun in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.63.

Sunrun Stock Performance

NASDAQ RUN opened at $13.46 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 3.38. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The business has a fifty day moving average of $13.25 and a 200-day moving average of $17.02. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 7.87 and a beta of 2.25.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.46. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The business’s revenue for the quarter was up 123.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, analysts predict that Sunrun will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, CEO Mary Powell sold 193,002 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the completion of the transaction, the chief executive officer owned 934,282 shares of the company’s stock, valued at $12,379,236.50. This represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 127,673 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,691,667.25. Following the transaction, the executive owned 707,126 shares in the company, valued at approximately $9,369,419.50. The trade was a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 879,894 shares of company stock worth $12,732,496 in the last quarter. 3.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Sunrun by 5.1% in the 1st quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after purchasing an additional 30,175 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Sunrun by 47.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock worth $192,000 after buying an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sunrun by 2.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after buying an additional 5,882 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Sunrun by 511.0% in the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock worth $158,000 after buying an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after buying an additional 718,955 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.