Sunrun (NASDAQ:RUN) Price Target Cut to $20.00 by Analysts at Oppenheimer

Sunrun (NASDAQ:RUN) had its price objective decreased by stock analysts at Oppenheimer from $22.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the energy company’s stock. Oppenheimer’s price objective would indicate a potential upside of 95.69% from the stock’s current price.

Several other analysts have also issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of Sunrun in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. BMO Capital Markets lifted their target price on shares of Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, September 27th. Finally, Susquehanna reduced their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus target price of $21.19.

Sunrun Stock Performance

Shares of NASDAQ:RUN traded down $1.38 during midday trading on Friday, reaching $10.22. The company’s stock had a trading volume of 8,185,338 shares, compared to its average volume of 11,907,479. The firm has a market capitalization of $2.28 billion, a PE ratio of -1.60 and a beta of 2.61. Sunrun has a twelve month low of $8.82 and a twelve month high of $22.26. The stock has a fifty day moving average of $16.80 and a 200 day moving average of $15.39. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. On average, equities analysts expect that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total transaction of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares in the company, valued at $5,495,635. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,840 shares of company stock worth $2,755,487 in the last ninety days. 3.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares during the last quarter. Blue Trust Inc. increased its position in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in Sunrun during the second quarter worth approximately $36,000. CWM LLC increased its position in Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sunrun during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.