Zacks Investment Research cut shares of Sunrun (NASDAQ:RUN) from a strong-buy rating to a sell rating in a research report released on Friday.
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. “
RUN has been the subject of a number of other reports. Oppenheimer reaffirmed a buy rating and issued a $10.00 price objective on shares of Sunrun in a research report on Thursday, November 9th. BidaskClub raised Sunrun from a hold rating to a buy rating in a research report on Tuesday. Deutsche Bank set a $10.00 price objective on Sunrun and gave the company a buy rating in a research report on Monday, January 22nd. Credit Suisse Group began coverage on Sunrun in a research report on Monday, February 12th. They issued an outperform rating and a $15.00 price objective for the company. Finally, ValuEngine cut Sunrun from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $9.36.
Large investors have recently added to or reduced their stakes in the stock. Standard Life Aberdeen plc acquired a new stake in Sunrun during the 4th quarter worth approximately $121,000. Russell Investments Group Ltd. acquired a new stake in Sunrun during the 3rd quarter worth approximately $123,000. Teacher Retirement System of Texas acquired a new stake in Sunrun during the 4th quarter worth approximately $140,000. Aperio Group LLC acquired a new stake in Sunrun during the 4th quarter worth approximately $153,000. Finally, IPG Investment Advisors LLC acquired a new stake in Sunrun during the 4th quarter worth approximately $159,000. 80.25% of the stock is owned by institutional investors and hedge funds.
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Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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