Barclays Trims Sunrun (NASDAQ:RUN) Target Price to $18.00

Sunrun (NASDAQ:RUN) had its target price reduced by Barclays from $19.00 to $18.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

Several other equities analysts have also issued reports on RUN. Truist Financial reiterated a “hold” rating and issued a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Susquehanna reduced their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets raised their price objective on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Sunrun Trading Up 0.3 %

NASDAQ RUN opened at $14.61 on Wednesday. The company’s 50-day simple moving average is $18.38 and its two-hundred day simple moving average is $15.16. Sunrun has a one year low of $8.43 and a one year high of $22.26. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -2.29 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The company had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. Sunrun’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities analysts forecast that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanna Steele sold 24,161 shares of Sunrun stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the completion of the transaction, the insider now owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,001 shares of company stock valued at $3,220,345 in the last ninety days. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently bought and sold shares of RUN. Vanguard Group Inc. raised its position in shares of Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after buying an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP grew its stake in Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after acquiring an additional 729,633 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Sunrun by 0.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock worth $56,402,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Sylebra Capital LLC acquired a new position in shares of Sunrun during the 2nd quarter worth approximately $35,387,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains 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; and sells services to commercial developers through multi-family and new homes.