Mizuho Raises Sunrun (NASDAQ:RUN) Price Target to $21.00

Sunrun (NASDAQ:RUN) had its target price raised by equities researchers at Mizuho from $13.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s price target suggests a potential upside of 96.26% from the stock’s previous close.

RUN has been the subject of several other research reports. Susquehanna lowered their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Jefferies Financial Group upgraded Sunrun from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $5.00 to $11.00 in a research report on Wednesday, July 9th. Citigroup reiterated a “neutral” rating and issued a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. BNP Paribas upgraded Sunrun from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 7th. Finally, UBS Group lowered their price objective on Sunrun from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and a consensus target price of $14.22.

Sunrun Trading Up 3.3%

NASDAQ RUN opened at $10.70 on Monday. The business has a 50 day simple moving average of $8.86 and a 200 day simple moving average of $8.21. Sunrun has a one year low of $5.38 and a one year high of $22.26. The stock has a market capitalization of $2.44 billion, a P/E ratio of -0.88 and a beta of 2.60. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) EPS. Research analysts expect that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 8,010 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.81, for a total transaction of $86,588.10. Following the transaction, the executive directly owned 679,044 shares of the company’s stock, valued at approximately $7,340,465.64. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 8,909 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the sale, the chief financial officer owned 446,797 shares in the company, valued at $4,825,407.60. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,939 shares of company stock valued at $430,264 over the last 90 days. Company insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Vanguard Group Inc. grew its stake in Sunrun by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after buying an additional 343,448 shares in the last quarter. Greenvale Capital LLP grew its stake in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. Sylebra Capital LLC grew its stake in Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock worth $48,482,000 after buying an additional 1,590,169 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Sunrun by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock worth $61,252,000 after buying an additional 1,427,858 shares in the last quarter. Hedge funds and other 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.