Sunrun (NASDAQ:RUN) Given New $25.00 Price Target at JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN) had its price objective upped by JPMorgan Chase & Co. from $23.00 to $25.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other research firms have also recently issued reports on RUN. BNP Paribas Exane raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Monday, July 7th. Mizuho lifted their price objective on shares of Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Zacks Research raised shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. TD Cowen lifted their price objective on shares of Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised shares of Sunrun from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $16.00 in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and a consensus target price of $17.08.

Sunrun Stock Performance

NASDAQ:RUN opened at $20.14 on Thursday. The company has a fifty day simple moving average of $16.63 and a two-hundred day simple moving average of $11.31. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -1.73 and a beta of 2.41. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, equities analysts anticipate that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total value of $965,500.00. Following the completion of the sale, the director directly owned 850,482 shares of the company’s stock, valued at $16,422,807.42. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeanna Steele sold 21,037 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total transaction of $425,999.25. Following the completion of the sale, the insider directly owned 366,264 shares of the company’s stock, valued at approximately $7,416,846. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 262,481 shares of company stock valued at $4,834,513 over the last quarter. 3.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently made changes to their positions in RUN. PGGM Investments raised its holdings in shares of 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 buying an additional 5,325,332 shares during the last quarter. Maple Rock Capital Partners Inc. raised its holdings in shares of Sunrun by 95.6% in the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after buying an additional 3,974,464 shares during the last quarter. Sylebra Capital LLC raised its holdings in shares of Sunrun by 23.8% in the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock valued at $48,482,000 after buying an additional 1,590,169 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sunrun in the second quarter valued at about $9,668,000. Finally, HRT Financial LP purchased a new stake in shares of Sunrun in the second quarter valued at about $9,416,000. 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.