Sunrun (NASDAQ:RUN) Price Target Lowered to $27.00 at Morgan Stanley

Sunrun (NASDAQ:RUN) had its target price cut by Morgan Stanley from $35.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other research firms also recently commented on RUN. Barclays dropped their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price target for the company. in a research report on Friday, November 8th. Roth Mkm lowered their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Glj Research reaffirmed a “sell” rating and issued a $7.78 target price on shares of Sunrun in a research report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price target on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.12.

Sunrun Stock Performance

Shares of RUN opened at $10.01 on Friday. Sunrun has a 1 year low of $9.23 and a 1 year high of $22.26. The company’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $15.46. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -5.50 and a beta of 2.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 2,148 shares of Sunrun stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the transaction, the chief executive officer now owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,795 shares of company stock worth $2,574,225. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of 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 buying an additional 691 shares during the last quarter. Creative Planning lifted its position in Sunrun by 0.3% during the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after acquiring an additional 784 shares during the last quarter. Van ECK Associates Corp lifted its position in 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 acquiring an additional 886 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Sunrun by 6.0% during the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock worth $186,000 after acquiring an additional 895 shares during the period. Finally, &PARTNERS grew its position in shares of Sunrun by 1.6% in the second quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after purchasing an additional 1,019 shares during the last quarter. Institutional investors and hedge funds 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.