JMP Securities Lowers Sunrun Inc. (RUN) to Market Perform
Sunrun Inc. (NASDAQ:RUN) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.
A number of other equities analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.00 to $12.00 in a research report on Thursday, October 6th. Zacks Investment Research upgraded shares of Sunrun from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Thursday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $8.00 price objective (down from $19.00) on shares of Sunrun in a research report on Wednesday, August 3rd. Credit Suisse Group AG started coverage on shares of Sunrun in a research report on Thursday, November 3rd. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $9.00 price objective (up from $8.00) on shares of Sunrun in a research report on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sunrun presently has an average rating of “Buy” and a consensus price target of $11.59.
Sunrun (NASDAQ:RUN) opened at 4.79 on Thursday. Sunrun has a 12 month low of $4.15 and a 12 month high of $14.95. The stock’s 50 day moving average is $5.90 and its 200-day moving average is $5.96. The company has a market capitalization of $493.71 million, a PE ratio of 145.15 and a beta of -0.89.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.71. The business earned $122.50 million during the quarter, compared to analysts’ expectations of $111.15 million. Sunrun had a net margin of 6.94% and a return on equity of 4.04%. The firm’s quarterly revenue was up 68.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, analysts expect that Sunrun will post ($0.08) EPS for the current year.
In related news, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $5.82, for a total transaction of $246,220.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder William B. Elmore sold 27,384 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $6.06, for a total transaction of $165,947.04. The disclosure for this sale can be found here. Insiders own 42.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Sunrun by 245.1% in the second quarter. California State Teachers Retirement System now owns 132,626 shares of the company’s stock valued at $786,000 after buying an additional 94,196 shares in the last quarter. Robecosam AG raised its position in Sunrun by 113.5% in the first quarter. Robecosam AG now owns 768,000 shares of the company’s stock worth $4,969,000 after buying an additional 408,243 shares during the period. Quentec Asset Management LLC raised its position in Sunrun by 114.0% in the first quarter. Quentec Asset Management LLC now owns 2,506,860 shares of the company’s stock worth $16,244,000 after buying an additional 1,335,487 shares during the period. JPMorgan Chase & Co. acquired a new position in Sunrun during the second quarter worth $2,512,000. Finally, Bank of New York Mellon Corp raised its position in Sunrun by 159.1% in the second quarter. Bank of New York Mellon Corp now owns 135,704 shares of the company’s stock worth $805,000 after buying an additional 83,325 shares during the period. 67.01% of the stock is currently owned by institutional investors and hedge funds.
Sunrun Company Profile
Sunrun Inc (Sunrun) 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. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.
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