Sunrun (NASDAQ:RUN) posted its quarterly earnings results on Wednesday. The energy company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.43), Morningstar.com reports. Sunrun had a return on equity of 2.09% and a net margin of 3.51%. The business had revenue of $194.50 million during the quarter, compared to analysts’ expectations of $152.90 million.
Shares of RUN traded down $1.07 during trading hours on Thursday, hitting $15.53. The stock had a trading volume of 2,534,700 shares, compared to its average volume of 1,151,815. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.24 and a quick ratio of 1.03. Sunrun has a 12 month low of $8.81 and a 12 month high of $17.44. The firm has a market capitalization of $1.91 billion, a P/E ratio of 67.52, a PEG ratio of 0.97 and a beta of 0.58.
RUN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, March 6th. BidaskClub cut Sunrun from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. TheStreet cut Sunrun from a “b-” rating to a “c+” rating in a research note on Friday, March 29th. ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Credit Suisse Group set a $24.00 price target on Sunrun and gave the stock a “buy” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Sunrun currently has a consensus rating of “Buy” and a consensus target price of $18.64.
In related news, Director Steven Vassallo sold 33,945 shares of Sunrun stock in a transaction on Monday, February 11th. The stock was sold at an average price of $15.04, for a total value of $510,532.80. Following the completion of the sale, the director now owns 39,810 shares of the company’s stock, valued at $598,742.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward Harris Fenster sold 3,510 shares of Sunrun stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.01, for a total value of $59,705.10. Following the completion of the sale, the chairman now directly owns 2,460,681 shares of the company’s stock, valued at approximately $41,856,183.81. The disclosure for this sale can be found here. Insiders sold 631,278 shares of company stock valued at $10,032,674 in the last ninety days. 9.34% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Brightline Capital Management LLC bought a new stake in Sunrun during the first quarter valued at about $2,812,000. Advisor Group Inc. grew its holdings in Sunrun by 69.7% during the first quarter. Advisor Group Inc. now owns 12,886 shares of the energy company’s stock valued at $181,000 after purchasing an additional 5,292 shares during the period. BlackRock Inc. grew its holdings in Sunrun by 0.3% during the first quarter. BlackRock Inc. now owns 6,748,435 shares of the energy company’s stock valued at $94,885,000 after purchasing an additional 22,508 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Sunrun by 17.3% during the first quarter. Parametric Portfolio Associates LLC now owns 147,849 shares of the energy company’s stock valued at $2,079,000 after purchasing an additional 21,839 shares during the period. Finally, First Trust Advisors LP grew its holdings in Sunrun by 5.8% during the first quarter. First Trust Advisors LP now owns 538,157 shares of the energy company’s stock valued at $7,566,000 after purchasing an additional 29,707 shares during the period. 84.78% of the stock is owned by institutional investors.
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Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.
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