Sunrun (NASDAQ:RUN) Stock Rating Reaffirmed by Morgan Stanley

Sunrun (NASDAQ:RUN)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $35.00 price objective on the energy company’s stock. Morgan Stanley’s target price points to a potential upside of 91.36% from the stock’s current price.

A number of other brokerages have also commented on RUN. Piper Sandler boosted their price target on shares of Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets boosted their price target on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Sunrun Stock Down 3.3 %

Sunrun stock opened at $18.29 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 firm’s fifty day moving average is $18.66 and its 200 day moving average is $14.56. The company has a market capitalization of $4.09 billion, a PE ratio of -2.74 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $516.76 million. During the same quarter in the previous year, the company earned $0.25 EPS. Sunrun’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sunrun will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the director now directly owns 1,294,383 shares of the company’s stock, valued at $21,913,904.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Sunrun news, insider Jeanna Steele sold 2,513 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now directly owns 312,774 shares of the company’s stock, valued at $3,944,080.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $846,500.00. Following the completion of the sale, the director now directly owns 1,294,383 shares in the company, valued at $21,913,904.19. The disclosure for this sale can be found here. Insiders have sold a total of 178,675 shares of company stock valued at $3,253,289 over the last three months. 3.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas purchased a new stake in shares of Sunrun in the first quarter worth about $37,000. Duncker Streett & Co. Inc. purchased a new stake in Sunrun in the second quarter valued at approximately $36,000. Parallel Advisors LLC raised its stake in Sunrun by 91.4% in the fourth quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after purchasing an additional 1,513 shares in the last quarter. CWM LLC raised its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sunrun in the second quarter valued at approximately $45,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.