Sunrun (NASDAQ:RUN) Price Target Raised to $19.00

Sunrun (NASDAQ:RUN) had its target price increased by The Goldman Sachs Group from $15.00 to $19.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

A number of other equities analysts have also recently issued reports on RUN. KeyCorp upgraded Sunrun from an “underweight” rating to a “sector weight” rating in a report on Tuesday, July 8th. Oppenheimer raised their price objective on Sunrun from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. 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 report on Monday, July 7th. Wall Street Zen upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average price target of $14.81.

Sunrun Price Performance

NASDAQ RUN opened at $16.06 on Thursday. Sunrun has a twelve month low of $5.38 and a twelve month high of $21.77. 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 market capitalization of $3.71 billion, a PE ratio of -1.38 and a beta of 2.21. The stock has a 50-day simple moving average of $12.86 and a 200 day simple moving average of $9.40.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $569.34 million during the quarter, compared to analysts’ expectations of $555.42 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insider Activity

In related news, CRO Paul S. Dickson sold 8,010 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.81, for a total transaction of $86,588.10. Following the sale, the executive directly owned 679,044 shares in the company, valued at approximately $7,340,465.64. The trade was a 1.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeanna Steele sold 17,417 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $16.25, for a total value of $283,026.25. Following the completion of the transaction, the insider owned 422,203 shares in the company, valued at $6,860,798.75. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,136 shares of company stock worth $1,076,538. 3.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sunrun by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock valued at $6,125,000 after buying an additional 52,176 shares in the last quarter. Sowell Financial Services LLC bought a new position in Sunrun during the 1st quarter valued at approximately $273,000. GAMMA Investing LLC increased its position in Sunrun by 572.1% during the 1st quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company’s stock valued at $421,000 after buying an additional 61,198 shares in the last quarter. Public Sector Pension Investment Board increased its position in Sunrun by 27.1% during the 1st quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock valued at $4,169,000 after buying an additional 151,474 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Sunrun by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock valued at $6,545,000 after buying an additional 29,227 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.