Sunrun (NASDAQ:RUN) Sets New 12-Month High on Analyst Upgrade

Shares of Sunrun Inc. (NASDAQ:RUN) reached a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $11.00 to $20.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Sunrun traded as high as $20.02 and last traded at $19.23, with a volume of 5418633 shares traded. The stock had previously closed at $17.29.

A number of other research analysts have also recently commented on the company. UBS Group increased their target price on Sunrun from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, August 8th. BMO Capital Markets lifted their price target on Sunrun from $8.00 to $10.00 and gave the stock an “underperform” rating in a research note on Thursday, August 7th. Oppenheimer lifted their price target on Sunrun from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Cowen reaffirmed a “buy” rating on shares of Sunrun in a research note on Thursday, August 7th. Finally, BNP Paribas Exane raised Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $15.60.

Insider Activity

In other news, insider Jeanna Steele sold 7,077 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $16.75, for a total transaction of $118,539.75. Following the completion of the sale, the insider owned 415,126 shares of the company’s stock, valued at approximately $6,953,360.50. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan Ferber sold 10,927 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total value of $122,819.48. Following the sale, the director directly owned 54,947 shares of the company’s stock, valued at approximately $617,604.28. This trade represents a 16.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,136 shares of company stock valued at $1,076,538. Corporate insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

A number of institutional investors have recently made changes to their positions in RUN. Smartleaf Asset Management LLC boosted its stake in shares of Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after purchasing an additional 2,660 shares during the period. Spire Wealth Management boosted its stake in shares of Sunrun by 960.0% during the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after purchasing an additional 4,800 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Sunrun by 87.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock valued at $47,000 after purchasing an additional 2,700 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Sunrun during the first quarter valued at approximately $60,000. Finally, US Bancorp DE raised its holdings in shares of Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after acquiring an additional 5,342 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

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 company has a market cap of $4.23 billion, a P/E ratio of -1.58 and a beta of 2.41. The business has a fifty day moving average of $14.52 and a 200 day moving average of $10.28.

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

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.