Sunrun (NASDAQ:RUN) Price Target Raised to $21.00

Sunrun (NASDAQ:RUN) had its price objective hoisted by The Goldman Sachs Group from $19.00 to $21.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

RUN has been the topic of a number of other research reports. BNP Paribas upgraded Sunrun from a “hold” rating to a “strong-buy” rating in a report on Monday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Wednesday. BNP Paribas Exane upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Monday, July 7th. Cowen reiterated a “buy” rating on shares of Sunrun in a report on Thursday, August 7th. Finally, Mizuho raised their price objective on Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.77.

Sunrun Stock Performance

RUN opened at $18.80 on Wednesday. The stock has a market cap of $4.34 billion, a P/E ratio of -1.62 and a beta of 2.41. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $10.90. Sunrun has a 1-year low of $5.38 and a 1-year high of $21.08.

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. The firm had revenue of $569.34 million for the quarter, compared to analysts’ expectations of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.Sunrun’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, equities analysts anticipate that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 25,614 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $20.00, for a total value of $512,280.00. Following the transaction, the executive directly owned 655,734 shares of the company’s stock, valued at approximately $13,114,680. This trade represents a 3.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary Powell sold 11,699 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.34, for a total value of $226,258.66. Following the completion of the transaction, the chief executive officer directly owned 876,590 shares in the company, valued at $16,953,250.60. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,444 shares of company stock worth $4,408,513. Corporate insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in shares of Sunrun in the 1st quarter worth $273,000. GAMMA Investing LLC raised its position in Sunrun by 572.1% in the first quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company’s stock valued at $421,000 after purchasing an additional 61,198 shares during the period. PGGM Investments raised its position in Sunrun by 316.6% in the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after purchasing an additional 5,325,332 shares during the period. Public Sector Pension Investment Board raised its position in Sunrun by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock valued at $4,169,000 after purchasing an additional 151,474 shares during the period. Finally, Principal Financial Group Inc. raised its position in Sunrun by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock valued at $6,545,000 after purchasing an additional 29,227 shares during the period. 91.69% of the stock is owned by hedge funds and other 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.