TD Cowen Forecasts Strong Price Appreciation for Sunrun (NASDAQ:RUN) Stock

Sunrun (NASDAQ:RUN) had its target price upped by research analysts at TD Cowen from $22.00 to $23.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a “buy” rating on the energy company’s stock. TD Cowen’s price target would indicate a potential upside of 34.56% from the company’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets set a $19.00 price objective on Sunrun and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Wells Fargo & Company raised their price target on Sunrun from $8.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. UBS Group upped their price target on shares of Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada raised their price objective on shares of Sunrun from $16.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Zacks Research cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $18.99.

Sunrun Stock Down 16.3%

NASDAQ:RUN traded down $3.33 during mid-day trading on Friday, hitting $17.09. 4,366,578 shares of the company’s stock were exchanged, compared to its average volume of 15,231,510. Sunrun has a one year low of $5.38 and a one year high of $22.44. 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 business has a fifty day moving average price of $18.41 and a 200 day moving average price of $12.76. The company has a market cap of $3.94 billion, a PE ratio of -1.46 and a beta of 2.35.

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

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 9,055 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $19.35, for a total transaction of $175,214.25. Following the completion of the sale, the chief financial officer owned 424,606 shares of the company’s stock, valued at $8,216,126.10. The trade was a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 12,493 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $20.02, for a total value of $250,109.86. Following the completion of the sale, the executive owned 647,600 shares of the company’s stock, valued at $12,964,952. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 316,956 shares of company stock valued at $5,952,165 in the last three months. Corporate insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Sunrun by 3.5% during the 3rd quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company’s stock valued at $311,000 after buying an additional 607 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Sunrun by 5.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 18,809 shares of the energy company’s stock worth $325,000 after acquiring an additional 967 shares during the period. Osaic Holdings Inc. boosted its position in shares of Sunrun by 6.3% in the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company’s stock worth $183,000 after purchasing an additional 1,332 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Sunrun by 33.1% in the third quarter. Smartleaf Asset Management LLC now owns 5,495 shares of the energy company’s stock worth $98,000 after purchasing an additional 1,365 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Sunrun by 12.0% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company’s stock valued at $110,000 after purchasing an additional 1,442 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.