Sunrun (NASDAQ:RUN) Price Target Raised to $23.00

Sunrun (NASDAQ:RUN) had its price target lifted by Oppenheimer from $21.00 to $23.00 in a research note published on Thursday,MarketScreener reports. The firm currently has an outperform rating on the energy company’s stock.

Several other research analysts have also weighed in on the company. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. BNP Paribas Exane upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Monday, July 7th. Mizuho raised their price target on Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. UBS Group raised their price target on Sunrun from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company raised their price target on Sunrun from $8.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and an average target price of $15.77.

Sunrun Trading Down 7.5%

Shares of Sunrun stock opened at $18.80 on Thursday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -1.62 and a beta of 2.41. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The stock has a 50 day moving average of $15.76 and a 200 day moving average of $10.93.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $1.25. The company had revenue of $569.34 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, research analysts predict that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In other Sunrun news, insider Jeanna Steele sold 1,526 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $19.75, for a total value of $30,138.50. Following the sale, the insider directly owned 387,301 shares in the company, valued at $7,649,194.75. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Danny Abajian sold 9,055 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $19.35, for a total value of $175,214.25. Following the completion of the sale, the chief financial officer owned 424,606 shares in the company, valued at approximately $8,216,126.10. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,444 shares of company stock valued at $4,408,513 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of RUN. Smartleaf Asset Management LLC raised its stake in Sunrun by 181.0% in the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after buying an additional 2,660 shares in the last quarter. Spire Wealth Management raised its stake in Sunrun by 960.0% in the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after buying an additional 4,800 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock valued at $47,000 after buying an additional 2,700 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Sunrun in the first quarter valued at $60,000. Finally, US Bancorp DE raised its stake in Sunrun by 107.6% in the first quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after buying an additional 5,342 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.