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

Sunrun (NASDAQ:RUN) had its price target raised by equities research analysts at TD Cowen from $22.00 to $23.00 in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective would indicate a potential upside of 34.56% from the stock’s current price.

A number of other equities analysts have also commented on RUN. The Goldman Sachs Group increased their price target on Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. BMO Capital Markets set a $19.00 price objective on Sunrun and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Citigroup upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $26.00 in a research report on Tuesday, October 21st. Finally, Oppenheimer upped their price target on shares of Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.99.

Sunrun Price Performance

Shares of Sunrun stock traded down $3.33 on Friday, hitting $17.09. 4,366,578 shares of the company traded hands, compared to its average volume of 15,231,510. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The business has a 50-day simple moving average of $18.41 and a 200 day simple moving average of $12.76. 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 $3.94 billion, a P/E ratio of -1.46 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. Sunrun’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the company posted ($0.37) earnings per share. Research analysts expect that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 4,475 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $21.71, for a total value of $97,152.25. Following the transaction, the insider owned 361,789 shares of the company’s stock, valued at $7,854,439.19. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction dated 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 of the company’s stock, valued at $8,216,126.10. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 316,956 shares of company stock valued at $5,952,165. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in shares of Sunrun by 181.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after purchasing an additional 2,660 shares during the period. Spire Wealth Management boosted its position in Sunrun by 960.0% during the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after acquiring an additional 4,800 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Sunrun by 87.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock valued at $47,000 after acquiring an additional 2,700 shares during the period. Federated Hermes Inc. purchased a new position in shares of Sunrun in the 3rd quarter valued at $49,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Sunrun in the 1st quarter worth $60,000. 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.