Sunrun (NASDAQ:RUN) Rating Increased to Buy at UBS Group

Sunrun (NASDAQ:RUN) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Friday,Benzinga reports. The brokerage currently has a $17.00 price target on the energy company’s stock, up from their prior price target of $14.00. UBS Group’s price objective indicates a potential upside of 58.14% from the stock’s previous close.

RUN has been the subject of several other research reports. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Glj Research reiterated a “sell” rating and set a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. BMO Capital Markets lowered their price target on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, November 11th. Finally, The Goldman Sachs Group cut their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.31.

Sunrun Trading Down 5.5 %

NASDAQ:RUN opened at $10.75 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -5.91 and a beta of 2.58. The business’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $14.76. Sunrun has a 1-year low of $9.01 and a 1-year high of $22.26.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,830 shares of company stock valued at $1,864,647 in the last 90 days. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Victory Capital Management Inc. lifted its holdings in Sunrun by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after purchasing an additional 691 shares during the last quarter. Creative Planning increased its position in Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after buying an additional 784 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Sunrun by 1.8% during the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after buying an additional 886 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Sunrun by 3.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 49,762 shares of the energy company’s stock valued at $600,000 after acquiring an additional 1,485 shares in the last quarter. 91.69% of the stock is owned by 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.