Sunrun (NASDAQ:RUN) Upgraded by Guggenheim to “Buy” Rating

Sunrun (NASDAQ:RUN) was upgraded by equities research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a $27.00 price target on the energy company’s stock. Guggenheim’s price target would indicate a potential upside of 57.62% from the company’s previous close.

Several other brokerages also recently commented on RUN. TD Cowen lifted their target price on shares of Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho boosted their price objective on shares of Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on shares of Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Wells Fargo & Company raised their target price on Sunrun from $8.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group raised Sunrun from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $21.00 in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.86.

Sunrun Stock Down 16.1%

Shares of NASDAQ:RUN opened at $17.13 on Monday. The stock has a market capitalization of $3.95 billion, a P/E ratio of -1.48 and a beta of 2.35. The stock’s 50-day moving average price is $18.43 and its 200-day moving average price is $12.92. 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 has a 12-month low of $5.38 and a 12-month high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.During the same period last year, the company earned ($0.37) EPS. Sunrun’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

Insider Activity

In related news, insider Jeanna Steele sold 21,037 shares of the company’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $20.25, for a total value of $425,999.25. Following the sale, the insider directly owned 366,264 shares of the company’s stock, valued at $7,416,846. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total value of $965,500.00. Following the completion of the transaction, the director owned 850,482 shares of the company’s stock, valued at approximately $16,422,807.42. This trade represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 316,956 shares of company stock worth $5,952,165. Company insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently modified their holdings of RUN. Smartleaf Asset Management LLC grew its position in Sunrun by 181.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after purchasing an additional 2,660 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Sunrun by 960.0% during 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 during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Sunrun by 87.1% during the second 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 in the last quarter. Federated Hermes Inc. purchased a new position in Sunrun in the 3rd quarter worth approximately $49,000. Finally, Apollon Wealth Management LLC bought a new position in Sunrun in the 1st quarter valued at approximately $60,000. 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.