Oppenheimer Holdings, Inc. Reiterates “Buy” Rating for Sunrun Inc. (RUN)
Sunrun Inc. (NASDAQ:RUN)‘s stock had its “buy” rating reissued by research analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. They presently have a $10.00 target price on the energy company’s stock. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 71.53% from the company’s previous close.
Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of Sunrun from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research report on Friday, October 13th. Bank of America Corporation initiated coverage on shares of Sunrun in a research report on Monday, November 6th. They set a “buy” rating on the stock. Finally, Barclays PLC boosted their price objective on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Sunrun currently has an average rating of “Buy” and a consensus price target of $7.88.
Shares of Sunrun (NASDAQ:RUN) opened at $5.83 on Thursday. Sunrun has a 1-year low of $4.21 and a 1-year high of $7.78. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89. The company has a market cap of $666.35, a price-to-earnings ratio of 7.17, a P/E/G ratio of 0.54 and a beta of -0.68.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.11. The company had revenue of $141.29 million during the quarter, compared to analyst estimates of $146.56 million. Sunrun had a net margin of 18.79% and a return on equity of 9.25%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. equities analysts anticipate that Sunrun will post 0.54 earnings per share for the current fiscal year.
In other news, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $7.16, for a total value of $240,404.16. The transaction was disclosed in a filing with the SEC, which is available through this link. 24.13% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in RUN. Bank of New York Mellon Corp grew its position in shares of Sunrun by 11.1% in the 1st 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 during the period. UBS Asset Management Americas Inc. grew its position in shares of Sunrun by 155.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after buying an additional 26,486 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in shares of Sunrun in the 1st quarter worth about $458,000. American International Group Inc. grew its position in shares of Sunrun by 7.1% in the 1st quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock worth $210,000 after buying an additional 2,579 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Sunrun by 4.8% in the 1st quarter. California Public Employees Retirement System now owns 44,000 shares of the energy company’s stock worth $238,000 after buying an additional 2,000 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.
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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