Sunrun (NASDAQ:RUN) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN) had its price target cut by JPMorgan Chase & Co. from $14.00 to $12.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

RUN has been the topic of several other reports. Barclays lowered their price objective on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 target price on shares of Sunrun in a report on Friday, October 9th. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a report on Sunday. Mizuho set a $18.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and a consensus target price of $14.39.

Sunrun Price Performance

RUN stock opened at $7.62 on Monday. The company has a market capitalization of $1.84 billion, a P/E ratio of 5.15 and a beta of 2.44. Sunrun has a twelve month low of $6.78 and a twelve month high of $21.95. The business has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $11.21. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 52.8% on a year-over-year basis. As a group, equities analysts anticipate that Sunrun will post 1.46 EPS for the current year.

Insider Buying and Selling at Sunrun

In related news, CFO Danny Abajian sold 16,734 shares of Sunrun stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $129,855.84. Following the transaction, the chief financial officer directly owned 386,532 shares in the company, valued at $2,999,488.32. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of Sunrun stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the transaction, the director owned 367,405 shares in the company, valued at approximately $3,659,353.80. This trade represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 118,719 shares of company stock valued at $1,031,277. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Sunrun by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after acquiring an additional 165,196 shares in the last quarter. Maple Rock Capital Partners Inc. increased its stake in shares of Sunrun by 23.1% during the second quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after acquiring an additional 692,448 shares during the period. Amundi raised its holdings in Sunrun by 3.9% during the second quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after purchasing an additional 127,878 shares in the last quarter. Bank of America Corp DE purchased a new position in Sunrun during the second quarter worth about $29,953,000. Finally, Renaissance Technologies LLC raised its holdings in Sunrun by 12.7% during the first quarter. Renaissance Technologies LLC now owns 2,065,245 shares of the energy company’s stock worth $28,005,000 after purchasing an additional 232,200 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.