Brokerages Set Sunrun Inc (NASDAQ:RUN) PT at $21.92

Shares of Sunrun Inc (NASDAQ:RUN) have received an average rating of “Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $21.92.

RUN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Sunrun from a “strong sell” rating to a “hold” rating in a report on Saturday, August 10th. BidaskClub lowered shares of Sunrun from a “buy” rating to a “hold” rating in a report on Friday, August 30th. KeyCorp initiated coverage on shares of Sunrun in a report on Monday, August 19th. They set an “overweight” rating and a $19.00 price target for the company. Goldman Sachs Group upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, June 17th. Finally, Roth Capital set a $24.00 price target on shares of Sunrun and gave the stock a “buy” rating in a report on Thursday, May 23rd.

In other news, Chairman Edward Harris Fenster sold 4,734 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $19.07, for a total transaction of $90,277.38. Following the completion of the sale, the chairman now owns 2,339,979 shares of the company’s stock, valued at approximately $44,623,399.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Tiger Global Management Llc acquired 170,696 shares of Sunrun stock in a transaction dated Wednesday, June 19th. The shares were bought at an average cost of $17.82 per share, with a total value of $3,041,802.72. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,461,313 shares of company stock valued at $106,974,793 and have sold 307,979 shares valued at $6,034,659. Company insiders own 9.34% of the company’s stock.

Several hedge funds have recently made changes to their positions in RUN. Dimensional Fund Advisors LP grew its position in shares of Sunrun by 201.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock worth $16,612,000 after buying an additional 1,019,554 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Sunrun during the 2nd quarter worth approximately $13,546,000. BlackRock Inc. grew its position in shares of Sunrun by 10.6% during the 2nd quarter. BlackRock Inc. now owns 7,464,662 shares of the energy company’s stock worth $140,037,000 after buying an additional 716,227 shares during the period. Bank of America Corp DE grew its position in shares of Sunrun by 29.6% during the 2nd quarter. Bank of America Corp DE now owns 1,895,559 shares of the energy company’s stock worth $35,561,000 after buying an additional 432,841 shares during the period. Finally, Brightline Capital Management LLC grew its position in Sunrun by 215.0% in the 2nd quarter. Brightline Capital Management LLC now owns 630,000 shares of the energy company’s stock valued at $11,819,000 after purchasing an additional 430,000 shares during the period. 83.18% of the stock is owned by institutional investors.

Sunrun stock traded up $0.13 during mid-day trading on Friday, hitting $15.96. 1,254,262 shares of the stock were exchanged, compared to its average volume of 1,372,234. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 1.68. Sunrun has a 12 month low of $8.81 and a 12 month high of $21.42. The firm’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $16.51. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 69.39, a PEG ratio of 6.33 and a beta of 0.75.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The firm had revenue of $204.60 million for the quarter, compared to the consensus estimate of $198.78 million. During the same quarter in the previous year, the business posted $0.06 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Sunrun will post 0.5 earnings per share for the current fiscal year.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

Read More: Cash Asset Ratio

Analyst Recommendations for Sunrun (NASDAQ:RUN)

Receive News & Ratings for Sunrun Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunrun and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit