Research analysts at Bank of America Corporation assumed coverage on shares of Sunrun Inc. (NASDAQ:RUN) in a research report issued on Monday. The brokerage set a “buy” rating on the energy company’s stock.
RUN has been the subject of a number of other reports. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Friday, October 13th. BidaskClub raised Sunrun from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Barclays PLC lifted their price objective on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Finally, ValuEngine cut Sunrun from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $7.88.
Sunrun (NASDAQ RUN) opened at $5.65 on Monday. Sunrun has a 52-week low of $4.15 and a 52-week high of $7.78. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.87. The firm has a market cap of $600.36, a P/E ratio of 7.24, a P/E/G ratio of 0.42 and a beta of -0.68.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The firm had revenue of $137.85 million for the quarter, compared to the consensus estimate of $143.35 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. equities analysts expect that Sunrun will post 0.63 EPS for the current year.
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In related news, insider Steven Vassallo sold 33,576 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $7.16, for a total value of $240,404.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward Harris Fenster sold 115,094 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the transaction, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The disclosure for this sale can be found here. Insiders own 24.13% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC grew its holdings in shares of Sunrun by 64.1% during the 3rd quarter. Essex Investment Management Co. LLC now owns 194,966 shares of the energy company’s stock worth $1,082,000 after purchasing an additional 76,169 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Sunrun by 30.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock valued at $159,000 after acquiring an additional 5,134 shares during the period. California State Teachers Retirement System lifted its holdings in Sunrun by 21.0% during the second quarter. California State Teachers Retirement System now owns 150,626 shares of the energy company’s stock worth $1,072,000 after acquiring an additional 26,100 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Sunrun by 25.8% during the second quarter. The Manufacturers Life Insurance Company now owns 67,490 shares of the energy company’s stock worth $480,000 after acquiring an additional 13,829 shares during the period. Finally, State Street Corp raised its stake in shares of Sunrun by 22.7% in the second quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock valued at $11,596,000 after buying an additional 300,923 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.
Sunrun Company Profile
Sunrun Inc 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. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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