TD Cowen Forecasts Strong Price Appreciation for Sunrun (NASDAQ:RUN) Stock

Sunrun (NASDAQ:RUN) had its price objective hoisted by equities research analysts at TD Cowen from $22.00 to $23.00 in a report released on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the energy company’s stock. TD Cowen’s target price suggests a potential upside of 34.27% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Morgan Stanley set a $20.00 target price on Sunrun in a research note on Thursday, October 16th. The Goldman Sachs Group lifted their price objective on Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Sunrun from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $21.00 in a research report on Wednesday, October 1st. UBS Group raised their target price on shares of Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $18.49.

Sunrun Trading Down 16.1%

Shares of NASDAQ RUN opened at $17.13 on Friday. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.44. The company has a 50-day moving average of $18.43 and a two-hundred day moving average of $12.88. The company has a market cap of $3.95 billion, a PE ratio of -1.48 and a beta of 2.35. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for 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 revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. As a group, equities analysts expect that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $20.41, for a total transaction of $1,020,500.00. Following the transaction, the director directly owned 800,482 shares in the company, valued at approximately $16,337,837.62. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 11,699 shares of Sunrun stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $19.34, for a total value of $226,258.66. Following the transaction, the chief executive officer owned 876,590 shares in the company, valued at $16,953,250.60. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 316,956 shares of company stock worth $5,952,165 in the last three months. 3.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently added to or reduced their stakes in RUN. PGGM Investments grew its holdings in shares of Sunrun by 316.6% during the second 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 in the last quarter. Public Sector Pension Investment Board grew its stake in Sunrun by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock valued at $4,169,000 after purchasing an additional 151,474 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Sunrun by 2.7% during the first quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock worth $6,545,000 after buying an additional 29,227 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Sunrun by 25.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock worth $14,650,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in Sunrun by 11.3% in the first quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock valued at $1,639,000 after buying an additional 28,395 shares during the period. 91.69% of the stock is owned by institutional investors.

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.