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

Sunrun (NASDAQ:RUN) had its target price raised by Susquehanna from $13.00 to $23.00 in a report released on Monday morning, MarketBeat reports. They currently have a positive rating on the energy company’s stock.

A number of other equities research analysts have also commented on the stock. The Goldman Sachs Group upped their price target on shares of Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Sunrun in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. BNP Paribas upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a report on Monday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.21.

Sunrun Trading Up 12.6%

Shares of RUN opened at $21.17 on Monday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -1.82 and a beta of 2.41. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $21.19. The firm has a 50 day moving average price of $15.99 and a 200-day moving average price of $11.07.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. The firm had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. As a group, equities research analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Sunrun news, CRO Paul S. Dickson sold 25,614 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $20.00, for a total value of $512,280.00. Following the completion of the transaction, the executive directly owned 655,734 shares in the company, valued at approximately $13,114,680. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total transaction of $965,500.00. Following the completion of the transaction, the director owned 850,482 shares of the company’s stock, valued at $16,422,807.42. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,444 shares of company stock worth $4,408,513. Company insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sylebra Capital LLC grew its position in shares of 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 during the period. Maple Rock Capital Partners Inc. grew its position in shares of Sunrun by 95.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock worth $66,525,000 after buying an additional 3,974,464 shares during the period. PGGM Investments grew its position in shares of Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock worth $57,319,000 after buying an additional 5,325,332 shares during the period. Erste Asset Management GmbH grew its position in shares of Sunrun by 5.5% in the 1st quarter. Erste Asset Management GmbH now owns 5,053,237 shares of the energy company’s stock worth $30,044,000 after buying an additional 264,024 shares during the period. Finally, Amundi grew its position in shares of Sunrun by 12.1% in the 1st quarter. Amundi now owns 3,479,021 shares of the energy company’s stock worth $20,686,000 after buying an additional 374,594 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.