Sunrun (NASDAQ:RUN) Price Target Raised to $16.00

Sunrun (NASDAQ:RUN) had its price target lifted by UBS Group from $15.00 to $16.00 in a research note published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the energy company’s stock.

Several other brokerages have also recently weighed in on RUN. Wells Fargo & Company dropped their price objective on Sunrun from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Cowen reiterated a “buy” rating on shares of Sunrun in a research note on Thursday. Susquehanna lifted their target price on Sunrun from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Thursday. Truist Financial reiterated a “hold” rating and set a $6.00 target price (down from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Hold” and a consensus price target of $13.85.

Sunrun Stock Performance

Shares of RUN stock opened at $11.85 on Friday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -1.02 and a beta of 2.37. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.26. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm has a 50 day moving average of $9.27 and a 200-day moving average of $8.28.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%. The company had revenue of $569.34 million for the quarter, compared to analysts’ expectations of $555.42 million. During the same period last year, the business earned $0.55 EPS. Sunrun’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Sunrun news, CFO Danny Abajian sold 8,909 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $96,217.20. Following the completion of the transaction, the chief financial officer owned 446,797 shares in the company, valued at approximately $4,825,407.60. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeanna Steele sold 3,668 shares of the stock in a transaction on Monday, July 7th. The stock was 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 of the company’s stock, valued at approximately $4,747,896. This trade represents a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,939 shares of company stock worth $430,264 in the last ninety days. Insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently added to or reduced their stakes in RUN. Spire Wealth Management grew its stake in shares of Sunrun by 960.0% in the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock worth $43,000 after acquiring an additional 4,800 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Sunrun by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company’s stock valued at $64,000 after acquiring an additional 6,129 shares during the period. Signaturefd LLC lifted its holdings in Sunrun by 436.4% in the second quarter. Signaturefd LLC now owns 7,805 shares of the energy company’s stock valued at $64,000 after acquiring an additional 6,350 shares during the period. Lighthouse Investment Partners LLC bought a new position in Sunrun in the fourth quarter valued at about $92,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Sunrun in the fourth quarter valued at about $94,000. 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.