The Goldman Sachs Group Cuts Sunrun (NASDAQ:RUN) Price Target to $13.00

Sunrun (NASDAQ:RUN) had its price target decreased by The Goldman Sachs Group from $15.00 to $13.00 in a research report sent to investors on Monday, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the energy company’s stock.

Several other research firms have also recently issued reports on RUN. Susquehanna decreased their price target on Sunrun from $18.00 to $15.00 and set a “positive” rating on the stock in a report on Friday, August 7th. UBS Group dropped their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. TD Cowen cut their target price on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their target price on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Citigroup lowered their price target on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.70.

Sunrun Stock Performance

RUN stock opened at $8.35 on Monday. The company has a 50 day moving average price of $9.53 and a 200 day moving average price of $11.92. Sunrun has a fifty-two week low of $8.19 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The stock has a market capitalization of $2.01 billion, a PE ratio of 5.64 and a beta of 2.37.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. Analysts forecast that Sunrun will post 1.18 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 23,985 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the transaction, the chief executive officer directly owned 1,111,535 shares in the company, valued at approximately $14,661,146.65. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 9,897 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $130,541.43. Following the completion of the sale, the insider owned 461,715 shares in the company, valued at $6,090,020.85. This represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 171,015 shares of company stock valued at $2,111,653. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its position in shares of Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after buying an additional 564 shares during the period. PNC Financial Services Group Inc. raised its position in Sunrun by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock valued at $322,000 after buying an additional 565 shares during the last quarter. Cloverfields Capital Group LP lifted its stake in Sunrun by 1.7% in the 4th quarter. Cloverfields Capital Group LP now owns 55,320 shares of the energy company’s stock valued at $1,018,000 after acquiring an additional 940 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Sunrun by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company’s stock valued at $55,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Leonteq Securities AG boosted its position in Sunrun by 26.8% during the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock worth $85,000 after acquiring an additional 1,327 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.