JPMorgan Chase & Co. Increases Sunrun (NASDAQ:RUN) Price Target to $16.00

Sunrun (NASDAQ:RUN) had its price objective raised by analysts at JPMorgan Chase & Co. from $13.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 54.74% from the company’s previous close.

RUN has been the topic of a number of other reports. The Goldman Sachs Group raised their price objective on shares of Sunrun from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Wells Fargo & Company dropped their price objective on shares of Sunrun from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Jefferies Financial Group raised shares of Sunrun from an “underperform” rating to a “hold” rating and raised their price objective for the company from $5.00 to $11.00 in a research note on Wednesday, July 9th. Mizuho raised their price objective on shares of Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup reissued a “neutral” rating and set a $7.00 price target on shares of Sunrun in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and a consensus target price of $14.22.

Sunrun Trading Down 3.4%

NASDAQ:RUN opened at $10.34 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -0.85 and a beta of 2.60. The firm has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $8.23. Sunrun has a 12 month low of $5.38 and a 12 month high of $22.26.

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

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the completion of the transaction, the insider owned 439,620 shares in the company, valued at $4,747,896. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Paul S. Dickson sold 8,010 shares of Sunrun stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.81, for a total transaction of $86,588.10. Following the completion of the transaction, the executive owned 679,044 shares of the company’s stock, valued at $7,340,465.64. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

Large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Sunrun by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after purchasing an additional 52,176 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sunrun during the fourth quarter valued at approximately $402,000. Charles Schwab Investment Management Inc. grew its stake in Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock valued at $21,511,000 after acquiring an additional 155,311 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Sunrun during the first quarter valued at approximately $273,000. Finally, Greenvale Capital LLP grew its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after acquiring an additional 4,516,793 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.