Sunrun Inc. (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th. The firm currently has a $7.75 price target on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.64% from the stock’s current price.
According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “
Other equities research analysts have also recently issued reports about the company. UBS AG upgraded Sunrun from a “neutral” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Wednesday, March 22nd. Goldman Sachs Group, Inc. (The) set a $10.00 target price on Sunrun and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.82.
Shares of Sunrun (RUN) traded up 1.94% during mid-day trading on Wednesday, hitting $6.82. The stock had a trading volume of 614,906 shares. Sunrun has a 52 week low of $4.15 and a 52 week high of $7.64. The stock has a 50 day moving average of $7.11 and a 200-day moving average of $5.77. The stock has a market capitalization of $724.02 million, a P/E ratio of 8.75 and a beta of -0.69.
Sunrun (NASDAQ:RUN) last posted its earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The company had revenue of $137.85 million for the quarter, compared to the consensus estimate of $143.35 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Sunrun will post $1.05 earnings per share for the current year.
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In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total transaction of $784,941.08. Following the completion of the sale, the chairman now directly owns 2,371,439 shares in the company, valued at approximately $16,173,213.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 24.13% of the company’s stock.
Several hedge funds have recently modified their holdings of RUN. FMR LLC increased its stake in shares of Sunrun by 0.8% in the second quarter. FMR LLC now owns 15,816,308 shares of the energy company’s stock valued at $112,612,000 after buying an additional 125,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sunrun by 6.7% in the second quarter. Vanguard Group Inc. now owns 5,853,579 shares of the energy company’s stock valued at $41,677,000 after buying an additional 369,721 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock valued at $25,631,000 after buying an additional 367,911 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in shares of Sunrun by 4.1% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,391,025 shares of the energy company’s stock valued at $7,511,000 after buying an additional 55,368 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock valued at $5,485,000 after buying an additional 113,016 shares in the last quarter. Institutional investors own 71.63% of the company’s stock.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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