Sunrun (NASDAQ:RUN) Price Target Cut to $29.00 by Analysts at Jefferies Financial Group

by · The Cerbat Gem

Sunrun (NASDAQ:RUN – Free Report) had its target price lowered by Jefferies Financial Group from $31.00 to $29.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Oppenheimer boosted their price objective on Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on Sunrun from $12.00 to $16.50 and gave the company a hold rating in a report on Thursday, August 8th. BMO Capital Markets upped their price target on Sunrun from $17.00 to $20.00 and gave the stock a market perform rating in a report on Wednesday, August 7th. Finally, Susquehanna raised their price objective on Sunrun from $23.00 to $24.00 and gave the company a positive rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Sunrun currently has a consensus rating of Moderate Buy and a consensus price target of $22.55.

Read Our Latest Analysis on Sunrun

Sunrun Stock Down 6.8 %

Sunrun stock opened at $15.52 on Thursday. The company has a market capitalization of $3.47 billion, a PE ratio of -2.44 and a beta of 2.58. Sunrun has a 12-month low of $8.43 and a 12-month high of $22.26. The firm’s fifty day moving average is $18.65 and its 200 day moving average is $15.02. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

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

Insider Buying and Selling at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the director now owns 1,294,383 shares in the company, valued at $21,913,904.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Danny Abajian sold 9,694 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the sale, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the director now owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock worth $3,336,845 over the last ninety days. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Sunrun by 14.0% during 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 period. Greenvale Capital LLP grew its holdings in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after purchasing an additional 729,633 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Sunrun by 0.6% in the third 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 during the last quarter. Finally, Sylebra Capital LLC purchased a new stake in Sunrun in the second quarter valued at approximately $35,387,000. 91.69% of the stock is currently owned by institutional investors.

About Sunrun

(Get Free Report)

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.

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