Brokerages Set Sunrun Inc. (NASDAQ:RUN) Target Price at $22.79

Sunrun Inc. (NASDAQ:RUN) has earned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.79.

A number of research firms have recently weighed in on RUN. Oppenheimer upped their target price on Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Glj Research upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a research note on Monday. Evercore ISI dropped their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price target on shares of Sunrun in a research report on Tuesday, September 24th. Finally, BMO Capital Markets lifted their price objective on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 1,937 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $35,311.51. Following the sale, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $35,311.51. Following the transaction, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Danny Abajian sold 2,141 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $39,030.43. Following the sale, the chief financial officer now owns 276,119 shares of the company’s stock, valued at approximately $5,033,649.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock valued at $3,220,345 over the last 90 days. 3.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of Sunrun during the 2nd quarter worth about $36,000. BNP Paribas acquired a new stake in shares of Sunrun in the 1st quarter valued at about $37,000. Finally, CWM LLC increased its position in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after buying an additional 3,014 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Price Performance

NASDAQ:RUN opened at $14.43 on Friday. Sunrun has a 52 week low of $8.66 and a 52 week high of $22.26. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $15.26. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -2.16 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts predict that Sunrun will post -0.17 earnings per share for the current year.

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.