Sunrun Inc. (NASDAQ:RUN) Stock Has Consensus Target Price of $14.39 According to Analysts

Shares of Sunrun Inc. (NASDAQ:RUN) have earned a consensus rating of “Hold” from the twenty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.39.

RUN has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Jefferies Financial Group restated a “hold” rating and issued a $7.00 target price on shares of Sunrun in a research report on Friday, October 9th. Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Glj Research reaffirmed a “sell” rating and set a $4.63 price target on shares of Sunrun in a report on Monday, August 17th. Finally, Wells Fargo & Company reduced their price objective on Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, August 14th.

Sunrun Stock Down 1.6%

Shares of Sunrun stock opened at $7.58 on Wednesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 5.12 and a beta of 2.44. Sunrun has a twelve month low of $6.78 and a twelve month high of $21.95. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The business’s 50 day simple moving average is $8.32 and its 200-day simple moving average is $11.15.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The firm’s revenue was up 52.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Equities research analysts forecast that Sunrun will post 1.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 10,042 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the transaction, the insider owned 451,673 shares in the company, valued at $3,504,982.48. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,734 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $129,855.84. Following the transaction, the chief financial officer directly owned 386,532 shares of the company’s stock, valued at approximately $2,999,488.32. The trade was a 4.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 118,719 shares of company stock valued at $1,031,277. 3.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several large investors have recently modified their holdings of RUN. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun in the 4th quarter valued at $27,000. Allworth Financial LP acquired a new stake in Sunrun during the second quarter valued at $25,000. Summit Securities Group LLC acquired a new position in Sunrun in the first quarter worth approximately $36,000. Nykredit A S bought a new position in shares of Sunrun during the 2nd quarter valued at $78,000. Finally, Leonteq Securities AG raised its holdings in Sunrun by 26.8% during the first quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after buying an additional 1,327 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.