Wells Fargo & Company Lowers Sunrun (NASDAQ:RUN) Price Target to $17.00

Sunrun (NASDAQ:RUN) had its target price cut by analysts at Wells Fargo & Company from $22.00 to $17.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 63.54% from the stock’s current price.

Several other research firms have also commented on RUN. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings lowered Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. Glj Research reiterated a “sell” rating and set a $4.63 target price on shares of Sunrun in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $17.00 price target on shares of Sunrun in a research report on Friday, May 8th. Finally, UBS Group decreased their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sunrun presently has an average rating of “Hold” and a consensus target price of $16.81.

Sunrun Trading Up 5.4%

Shares of Sunrun stock traded up $0.54 during trading hours on Friday, hitting $10.39. The company’s stock had a trading volume of 1,832,341 shares, compared to its average volume of 9,676,085. The business has a fifty day moving average of $11.85 and a 200 day moving average of $13.86. Sunrun has a 1-year low of $8.61 and a 1-year high of $22.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $2.50 billion, a PE ratio of 7.01 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 52.8% on a year-over-year basis. As a group, equities analysts forecast that Sunrun will post 1.13 EPS for the current year.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 9,897 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $130,541.43. Following the completion of the transaction, the insider directly owned 461,715 shares of the company’s stock, valued at $6,090,020.85. This represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the sale, the director owned 459,091 shares of the company’s stock, valued at $7,308,728.72. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 223,045 shares of company stock worth $2,934,835 over the last three months. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Amundi boosted its stake in Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after acquiring an additional 1,188,564 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Sunrun by 6.7% in the 4th quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock worth $42,592,000 after purchasing an additional 145,285 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Sunrun by 33.1% in the 4th quarter. Intech Investment Management LLC now owns 324,632 shares of the energy company’s stock worth $5,973,000 after purchasing an additional 80,695 shares during the last quarter. LBP AM SA acquired a new stake in shares of Sunrun in the 4th quarter valued at about $3,307,000. Finally, Masters Capital Management LLC acquired a new stake in shares of Sunrun in the 1st quarter valued at about $6,780,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.