Sunrun (NASDAQ:RUN) PT Raised to $24.00

Sunrun (NASDAQ:RUN) had its price objective hoisted by investment analysts at Susquehanna from $23.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “positive” rating on the energy company’s stock. Susquehanna’s target price would indicate a potential upside of 38.89% from the stock’s current price.

Several other research analysts have also recently issued reports on RUN. Mizuho lowered their price objective on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley upped their target price on Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Jefferies Financial Group decreased their target price on Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.68.

Sunrun Price Performance

RUN stock opened at $17.28 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $3.83 billion, a PE ratio of -2.59 and a beta of 2.61. Sunrun has a 12-month low of $8.43 and a 12-month high of $23.85. The business’s fifty day moving average price is $13.21 and its 200 day moving average price is $13.13.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company had revenue of $458.20 million for the quarter, compared to the consensus estimate of $471.38 million. During the same quarter in the prior year, the business earned ($1.12) EPS. Sunrun’s revenue was down 22.3% on a year-over-year basis. On average, sell-side analysts anticipate that Sunrun will post -1.27 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the completion of the transaction, the director now directly owns 1,344,383 shares of the company’s stock, valued at approximately $16,280,478.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CRO Paul S. Dickson sold 2,486 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.43, for a total value of $35,872.98. Following the completion of the transaction, the executive now directly owns 447,184 shares of the company’s stock, valued at approximately $6,452,865.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.11, for a total value of $605,500.00. Following the completion of the transaction, the director now directly owns 1,344,383 shares of the company’s stock, valued at $16,280,478.13. The disclosure for this sale can be found here. In the last three months, insiders sold 205,712 shares of company stock valued at $2,859,761. Corporate insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after buying an additional 764 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after purchasing an additional 833 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after purchasing an additional 910 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after purchasing an additional 938 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Sunrun by 18.7% during the first quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other 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.