Sunrun (NASDAQ:RUN) Cut to “Underperform” at Jefferies Financial Group

Sunrun (NASDAQ:RUN) was downgraded by research analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $5.00 price objective on the energy company’s stock, down from their previous price objective of $6.00. Jefferies Financial Group’s price target would indicate a potential downside of 40.97% from the company’s previous close.

Several other research analysts have also commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Sunrun in a report on Tuesday, June 3rd. TD Cowen dropped their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. BNP Paribas downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Mizuho set a $13.00 price target on shares of Sunrun and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group increased their price target on Sunrun from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.06.

Sunrun Price Performance

Shares of Sunrun stock opened at $8.47 on Wednesday. The business’s fifty day moving average price is $7.96 and its 200 day moving average price is $8.51. Sunrun has a twelve month low of $5.45 and a twelve month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $1.94 billion, a P/E ratio of -4.65 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.42. The company had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. As a group, research analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

Insider Transactions at Sunrun

In other news, CEO Mary Powell sold 31,197 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the sale, the chief executive officer now owns 534,615 shares in the company, valued at approximately $3,603,305.10. This represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the transaction, the executive now directly owns 399,729 shares in the company, valued at $2,694,173.46. The trade was a 4.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,993 shares of company stock valued at $612,979. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Focus Partners Wealth lifted its holdings in Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock worth $74,000 after buying an additional 2,226 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Sunrun by 14.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company’s stock valued at $4,458,000 after acquiring an additional 98,547 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Sunrun during the 1st quarter valued at approximately $87,000. Caxton Associates LLP bought a new position in Sunrun during the first quarter worth $2,045,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after purchasing an additional 718,955 shares during the period. 91.69% of the stock is owned by institutional investors.

Sunrun Company Profile

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.