Sunrun’s (RUN) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Sunrun (NASDAQ:RUN) in a report published on Tuesday, Benzinga reports. Morgan Stanley currently has a $35.00 target price on the energy company’s stock.

RUN has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Sunrun from $17.00 to $20.00 and gave the stock a market perform rating in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of Sunrun from $14.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Susquehanna raised their target price on shares of Sunrun from $23.00 to $24.00 and gave the stock a positive rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Finally, Oppenheimer raised their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $22.33.

Sunrun Trading Down 0.3 %

Shares of NASDAQ:RUN opened at $18.50 on Tuesday. 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 12 month low of $8.43 and a 12 month high of $22.26. The company has a 50-day moving average price of $18.73 and a 200 day moving average price of $14.63.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share 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 for the quarter, compared to analyst estimates of $516.76 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, research analysts expect that Sunrun will post -0.16 EPS for the current fiscal year.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total value of $31,688.93. Following the completion of the sale, the insider now directly owns 312,774 shares in the company, valued at $3,944,080.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sunrun news, CRO Paul S. Dickson sold 3,855 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total value of $48,650.10. Following the completion of the sale, the executive now directly owns 443,329 shares in the company, valued at $5,594,811.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the completion of the sale, the insider now owns 312,774 shares of the company’s stock, valued at $3,944,080.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,675 shares of company stock worth $3,253,289. Corporate insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Duncker Streett & Co. Inc. acquired a new stake in shares of Sunrun during the second quarter worth $36,000. BNP Paribas acquired a new stake in shares of Sunrun during the first quarter worth $37,000. CWM LLC raised its holdings in shares of 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. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Sunrun during the second quarter worth $45,000. Finally, Headlands Technologies LLC purchased a new position in shares of Sunrun during the first quarter worth $53,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.