Analysts Set Sunrun Inc. (RUN) Target Price at $9.15
Shares of Sunrun Inc. (NASDAQ:RUN) have been assigned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.86.
A number of brokerages have recently commented on RUN. Bank of America Corporation reissued a “neutral” rating and set a $8.00 price target (up from $7.75) on shares of Sunrun in a research note on Thursday, August 10th. BidaskClub raised Sunrun from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research lowered Sunrun from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Barclays PLC lifted their price objective on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, ValuEngine lowered Sunrun from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st.
In other news, Chairman Edward Harris Fenster sold 115,094 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total transaction of $784,941.08. Following the completion of the sale, the chairman now owns 2,371,439 shares in the company, valued at $16,173,213.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $7.16, for a total value of $240,404.16. The disclosure for this sale can be found here. Insiders own 24.13% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RUN. Bank of New York Mellon Corp grew its holdings in Sunrun by 11.1% during the first quarter. Bank of New York Mellon Corp now owns 377,406 shares of the energy company’s stock worth $2,038,000 after buying an additional 37,857 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Sunrun by 155.8% in the first quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after purchasing an additional 26,486 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in Sunrun in the first quarter worth $458,000. American International Group Inc. boosted its position in Sunrun by 7.1% in the first quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock worth $210,000 after purchasing an additional 2,579 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Sunrun by 4.8% in the first quarter. California Public Employees Retirement System now owns 44,000 shares of the energy company’s stock worth $238,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.
Sunrun (RUN) traded down $0.04 during midday trading on Thursday, reaching $5.65. 685,743 shares of the company’s stock were exchanged, compared to its average volume of 820,463. Sunrun has a 1 year low of $4.15 and a 1 year high of $7.78. The firm has a market capitalization of $600.36, a PE ratio of 7.24, a PEG ratio of 0.42 and a beta of -0.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.71 and a quick ratio of 0.61.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The firm had revenue of $137.85 million for the quarter, compared to analyst estimates of $143.35 million. During the same period last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. analysts expect that Sunrun will post 0.63 EPS for the current fiscal year.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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