Sunrun (NASDAQ:RUN) Research Coverage Started at KeyCorp

KeyCorp initiated coverage on shares of Sunrun (NASDAQ:RUN) in a research note published on Monday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $19.00 price objective on the energy company’s stock.

Several other research firms also recently commented on RUN. Bank of America reiterated a buy rating and set a $23.50 price objective (up from $17.50) on shares of Sunrun in a research note on Thursday, April 25th. Zacks Investment Research upgraded shares of Sunrun from a strong sell rating to a hold rating in a research note on Saturday, August 10th. Goldman Sachs Group upgraded shares of Sunrun from a neutral rating to a buy rating and set a $20.00 price objective for the company in a research note on Monday, June 17th. BidaskClub downgraded shares of Sunrun from a strong-buy rating to a buy rating in a research note on Tuesday, August 13th. Finally, Roth Capital set a $24.00 price objective on shares of Sunrun and gave the stock a buy rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $21.19.

NASDAQ:RUN opened at $15.65 on Monday. Sunrun has a 12 month low of $8.81 and a 12 month high of $21.42. The firm has a fifty day simple moving average of $18.54 and a 200-day simple moving average of $16.48. The company has a current ratio of 0.83, a quick ratio of 0.69 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $1.84 billion, a P/E ratio of 68.04, a PEG ratio of 6.16 and a beta of 0.66.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The company had revenue of $204.60 million for the quarter, compared to analyst estimates of $198.78 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts forecast that Sunrun will post 0.5 EPS for the current year.

In other Sunrun news, major shareholder Tiger Global Management Llc bought 640,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $15.78 per share, for a total transaction of $10,099,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christopher Dawson sold 8,190 shares of Sunrun stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.04, for a total transaction of $164,127.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 4,067,975 shares of company stock valued at $70,803,816 and have sold 306,099 shares valued at $6,006,175. Insiders own 9.34% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Sunrun by 7.7% during the 4th quarter. Legal & General Group Plc now owns 16,805 shares of the energy company’s stock valued at $183,000 after purchasing an additional 1,205 shares during the period. Dimensional Fund Advisors LP increased its holdings in Sunrun by 201.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock valued at $16,612,000 after purchasing an additional 1,019,554 shares during the period. Norges Bank purchased a new position in Sunrun during the 4th quarter valued at about $16,863,000. BNP Paribas Arbitrage SA increased its holdings in Sunrun by 214.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 22,243 shares of the energy company’s stock valued at $313,000 after purchasing an additional 15,159 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Sunrun by 669.4% during the 1st quarter. SG Americas Securities LLC now owns 185,227 shares of the energy company’s stock valued at $2,604,000 after purchasing an additional 161,152 shares during the period. 79.58% of the stock is owned by institutional investors.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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