Analysts Set Sunrun Inc. (NASDAQ:RUN) Price Target at $15.77

Shares of Sunrun Inc. (NASDAQ:RUN) have received an average recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.5991.

RUN has been the subject of a number of research analyst reports. KeyCorp raised Sunrun from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, July 8th. TD Cowen raised their price target on Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Oppenheimer raised their price target on Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Zacks Research raised Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th.

Sunrun Trading Up 2.9%

NASDAQ RUN opened at $21.29 on Friday. The stock has a market cap of $4.91 billion, a P/E ratio of -1.83 and a beta of 2.41. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The stock has a 50 day simple moving average of $16.46 and a two-hundred day simple moving average of $11.21. 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 (NASDAQ:RUN) last announced its earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 21,037 shares of Sunrun stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $20.25, for a total transaction of $425,999.25. Following the sale, the insider directly owned 366,264 shares in the company, valued at $7,416,846. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 12,493 shares of Sunrun stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $20.02, for a total value of $250,109.86. Following the sale, the executive owned 647,600 shares in the company, valued at $12,964,952. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,481 shares of company stock valued at $4,834,513 over the last ninety days. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Sunrun by 53.0% during the third quarter. CWM LLC now owns 8,119 shares of the energy company’s stock valued at $140,000 after purchasing an additional 2,812 shares in the last quarter. Norden Group LLC boosted its position in shares of Sunrun by 16.7% during the third quarter. Norden Group LLC now owns 240,596 shares of the energy company’s stock valued at $4,160,000 after purchasing an additional 34,361 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Sunrun by 37.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 27,507 shares of the energy company’s stock valued at $476,000 after buying an additional 7,507 shares during the last quarter. Voya Investment Management LLC raised its stake in Sunrun by 9.8% during the third quarter. Voya Investment Management LLC now owns 63,602 shares of the energy company’s stock valued at $1,100,000 after buying an additional 5,685 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Sunrun during the third quarter valued at $492,000. 91.69% of the stock is currently owned by 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.