BNP Paribas Upgrades Sunrun (NASDAQ:RUN) to “Outperform”

BNP Paribas upgraded shares of Sunrun (NASDAQ:RUN) from a neutral rating to an outperform rating in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $16.00 target price on the energy company’s stock.

RUN has been the subject of a number of other reports. Wells Fargo & Company dropped their target price on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group dropped their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Roth Mkm dropped their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Susquehanna decreased their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.16.

Sunrun Trading Down 5.5 %

Shares of RUN opened at $10.75 on Tuesday. Sunrun has a 1 year low of $9.01 and a 1 year high of $22.26. 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 stock has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $14.76. The stock has a market cap of $2.41 billion, a PE ratio of -5.91 and a beta of 2.58.

Insider Buying and Selling

In other Sunrun news, CRO Paul S. Dickson sold 2,968 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 $33,182.24. Following the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Danny Abajian sold 3,734 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 value of $41,746.12. Following the transaction, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock valued at $1,864,647 over the last three months. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Sunrun by 1.5% in the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after purchasing an additional 691 shares in the last quarter. Creative Planning lifted its holdings in shares of Sunrun by 0.3% in the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Sunrun by 6.3% in the second quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock valued at $209,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 purchasing an additional 1,465 shares in the last quarter. 91.69% of the stock is currently 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.