BMO Capital Markets Cuts Sunrun (NASDAQ:RUN) Price Target to $11.00

Sunrun (NASDAQ:RUN - Get Free Report) had its target price reduced by investment analysts at BMO Capital Markets from $20.00 to $11.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "market perform" rating on the energy company's stock. BMO Capital Markets' price objective would suggest a potential upside of 7.53% from the stock's previous close.

A number of other research analysts have also weighed in on the stock. Susquehanna cut their target price on shares of Sunrun from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group lowered their target price on Sunrun from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Oppenheimer cut their price target on Sunrun from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday. Barclays dropped their target price on shares of Sunrun from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $20.00 price target on shares of Sunrun in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Sunrun has a consensus rating of "Hold" and an average price target of $20.86.

Sunrun Stock Performance

Shares of Sunrun stock remained flat at $10.23 during trading on Monday. The stock had a trading volume of 13,462,376 shares, compared to its average volume of 12,012,709. The business's fifty day moving average is $16.39 and its two-hundred day moving average is $15.47. Sunrun has a fifty-two week low of $9.02 and a fifty-two week high of $22.26. The company has a market capitalization of $2.29 billion, a PE ratio of -5.62 and a beta of 2.61. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Insider Buying and Selling

In other news, Director Gerald Alan Risk sold 9,045 shares of Sunrun stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the sale, the director now directly owns 334,761 shares in the company, valued at approximately $6,708,610.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Gerald Alan Risk sold 9,045 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.04, for a total transaction of $181,261.80. Following the completion of the transaction, the director now owns 334,761 shares of the company's stock, valued at approximately $6,708,610.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Danny Abajian sold 9,694 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares in the company, valued at approximately $5,495,635. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,840 shares of company stock valued at $2,755,487. Company insiders own 3.77% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in RUN. Vanguard Group Inc. grew its position in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company's stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP lifted its position in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company's stock valued at $139,355,000 after buying an additional 2,000,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company's stock worth $52,025,000 after acquiring an additional 729,633 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Sunrun by 0.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company's stock valued at $56,402,000 after acquiring an additional 18,000 shares during the period. Finally, Sylebra Capital LLC bought a new position in Sunrun during the second quarter worth about $35,387,000. Institutional investors own 91.69% of the company's stock.

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.