Sunrun (NASDAQ:RUN) Price Target Raised to $21.00 at Wells Fargo & Company

Sunrun (NASDAQ:RUN) had its price target boosted by Wells Fargo & Company from $14.00 to $21.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other equities research analysts have also recently commented on the stock. Mizuho boosted their price target 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. Oppenheimer upped their target price on Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. UBS Group raised their price target on Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets set a $19.00 target price on shares of Sunrun and gave the stock a “market perform” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

Sunrun Trading Up 7.6%

NASDAQ RUN opened at $19.75 on Tuesday. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The stock’s 50 day moving average price is $18.55 and its two-hundred day moving average price is $13.09. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -1.70 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the business earned ($0.37) EPS. As a group, analysts anticipate that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 11,699 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $19.34, for a total transaction of $226,258.66. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 9,055 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the sale, the chief financial officer owned 424,606 shares of the company’s stock, valued at approximately $8,216,126.10. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 306,029 shares of company stock worth $5,829,345. 3.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. PGGM Investments grew its stake 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 acquiring an additional 5,325,332 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Sunrun by 27.1% in the 1st 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. Principal Financial Group Inc. grew its position in shares of Sunrun by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock worth $6,545,000 after purchasing an additional 29,227 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Sunrun by 25.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock worth $14,650,000 after purchasing an additional 500,000 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Sunrun by 11.3% during the first quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock worth $1,639,000 after purchasing an additional 28,395 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

About Sunrun

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.