Sunrun Inc. (RUN) Receives $9.56 Consensus PT from Analysts

Sunrun Inc. (NASDAQ:RUN) has been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.56.

Several research firms have recently weighed in on RUN. Bank of America Corporation reissued a “neutral” rating and issued a $8.00 price objective (up from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. BidaskClub cut Sunrun from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research cut Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Barclays PLC increased their price objective on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, ValuEngine cut Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st.

In other Sunrun news, insider Steven Vassallo sold 33,576 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $7.16, for a total transaction of $240,404.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total value of $784,941.08. Following the transaction, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The disclosure for this sale can be found here. Corporate insiders own 24.13% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Suntrust Banks Inc. acquired a new position in Sunrun during the second quarter worth $112,000. Citigroup Inc. raised its stake in Sunrun by 760.3% during the second quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock worth $133,000 after acquiring an additional 16,507 shares in the last quarter. Legal & General Group Plc raised its stake in Sunrun by 16.3% during the second quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after acquiring an additional 2,768 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Sunrun by 30.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock worth $159,000 after acquiring an additional 5,134 shares in the last quarter. Finally, ETRADE Capital Management LLC acquired a new position in Sunrun during the second quarter worth $195,000. Hedge funds and other institutional investors own 73.95% of the company’s stock.

Sunrun (NASDAQ:RUN) traded up 0.37% during mid-day trading on Friday, hitting $5.47. 656,222 shares of the stock were exchanged. Sunrun has a 52 week low of $4.15 and a 52 week high of $7.78. The stock has a market cap of $580.70 million, a price-to-earnings ratio of 7.02 and a beta of -0.71. The company has a 50 day moving average price of $5.96 and a 200 day moving average price of $5.96.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 earnings per share 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 during the quarter, compared to analysts’ expectations of $143.35 million. During the same period in the prior year, the business earned $0.31 earnings per share. Sunrun’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts expect that Sunrun will post $1.01 EPS for the current fiscal year.

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Sunrun Company Profile

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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