Sunrun (RUN) Rating Lowered to Underperform at Bank of America

Bank of America cut shares of Sunrun (NASDAQ:RUN) from a buy rating to an underperform rating in a research report report published on Friday morning, Marketbeat reports.

A number of other research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Sunrun from a buy rating to a strong-buy rating in a research note on Friday, March 23rd. UBS assumed coverage on shares of Sunrun in a research note on Thursday, March 15th. They issued a buy rating and a $8.00 target price on the stock. Zacks Investment Research cut shares of Sunrun from a strong-buy rating to a sell rating in a research note on Friday, March 9th. Roth Capital assumed coverage on shares of Sunrun in a research note on Thursday, March 1st. They issued a buy rating and a $10.00 target price on the stock. Finally, Credit Suisse Group assumed coverage on shares of Sunrun in a research note on Monday, February 12th. They issued an outperform rating and a $15.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Sunrun has a consensus rating of Buy and an average price target of $9.75.

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RUN opened at $8.52 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.29. The stock has a market capitalization of $914.16, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.46 and a beta of -1.02. Sunrun has a twelve month low of $4.21 and a twelve month high of $10.16.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, March 6th. The energy company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.12). The company had revenue of $146.44 million during the quarter, compared to analysts’ expectations of $133.62 million. Sunrun had a net margin of 23.51% and a return on equity of 8.54%. research analysts anticipate that Sunrun will post 1.56 earnings per share for the current fiscal year.

In related news, CEO Lynn Michelle Jurich sold 36,522 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $8.92, for a total transaction of $325,776.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in shares of Sunrun by 9.2% during the 4th quarter. First Trust Advisors LP now owns 116,870 shares of the energy company’s stock valued at $690,000 after buying an additional 9,848 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in Sunrun by 18.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 76,162 shares of the energy company’s stock worth $450,000 after acquiring an additional 11,937 shares during the period. New York State Common Retirement Fund increased its holdings in Sunrun by 16.9% during the 3rd quarter. New York State Common Retirement Fund now owns 89,200 shares of the energy company’s stock worth $495,000 after acquiring an additional 12,900 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Sunrun by 5.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 289,287 shares of the energy company’s stock worth $1,606,000 after acquiring an additional 13,667 shares during the period. Finally, First Republic Investment Management Inc. increased its holdings in Sunrun by 44.2% during the 4th quarter. First Republic Investment Management Inc. now owns 53,919 shares of the energy company’s stock worth $319,000 after acquiring an additional 16,537 shares during the period. Institutional investors own 80.89% of the company’s stock.

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About Sunrun

Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.

Analyst Recommendations for Sunrun (NASDAQ:RUN)

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