Jefferies Financial Group Lowers Sunrun (NASDAQ:RUN) Price Target to $29.00

Sunrun (NASDAQ:RUN) had its price objective cut by analysts at Jefferies Financial Group from $31.00 to $29.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 81.93% from the company’s current price.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price objective on shares of Sunrun in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price target on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a report on Thursday, August 8th. BMO Capital Markets lifted their target price on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Evercore ISI cut their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial reiterated a “hold” rating and issued a $18.00 price objective (up from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.55.

Sunrun Price Performance

Sunrun stock opened at $15.94 on Thursday. 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 has a 52-week low of $8.43 and a 52-week high of $22.26. The firm has a market cap of $3.56 billion, a PE ratio of -2.50 and a beta of 2.58. The company’s 50 day moving average is $18.64 and its two-hundred day moving average is $15.05.

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

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the transaction, the director now directly owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the director now owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeanna Steele sold 24,161 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the transaction, the insider now owns 310,617 shares in the company, valued at $5,976,271.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,001 shares of company stock worth $3,336,845. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the stock. Greenvale Capital LLP lifted its position in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after acquiring an additional 1,100,000 shares during the last quarter. Oracle Alpha Inc. purchased a new stake in Sunrun during the fourth quarter valued at about $376,000. EP Wealth Advisors LLC boosted its holdings in shares of Sunrun by 20.4% in the fourth quarter. EP Wealth Advisors LLC now owns 21,364 shares of the energy company’s stock worth $419,000 after buying an additional 3,624 shares during the period. Wellington Management Group LLP purchased a new position in shares of Sunrun in the fourth quarter worth approximately $15,935,000. Finally, Vanguard Group Inc. increased its position in shares of Sunrun by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock worth $384,394,000 after acquiring an additional 176,861 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

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.