Sunrun (NASDAQ:RUN) Upgraded by Guggenheim to Buy Rating

Guggenheim upgraded shares of Sunrun (NASDAQ:RUN) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports. The brokerage currently has $27.00 price objective on the energy company’s stock.

RUN has been the subject of a number of other reports. Cowen reissued a “buy” rating on shares of Sunrun in a research note on Thursday, August 7th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. UBS Group boosted their target price on shares of Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Oppenheimer raised their price target on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley set a $20.00 price objective on shares of Sunrun in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Sunrun Price Performance

RUN stock opened at $18.35 on Monday. The stock has a market cap of $4.23 billion, a PE ratio of -1.58 and a beta of 2.35. Sunrun has a 12 month low of $5.38 and a 12 month high of $22.44. The company has a 50-day moving average price of $18.48 and a 200 day moving average price of $13.00. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 4,475 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $21.71, for a total value of $97,152.25. Following the completion of the sale, the insider owned 361,789 shares in the company, valued at approximately $7,854,439.19. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 9,055 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 424,606 shares in the company, valued at approximately $8,216,126.10. This represents a 2.09% 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 over the last three months. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently bought and sold shares of RUN. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Sunrun by 19.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,758 shares of the energy company’s stock valued at $180,000 after acquiring an additional 5,033 shares during the period. Teacher Retirement System of Texas purchased a new position in Sunrun in the first quarter valued at about $192,000. Principal Financial Group Inc. raised its holdings in Sunrun by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock worth $6,545,000 after purchasing an additional 29,227 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Sunrun by 8.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 35,399 shares of the energy company’s stock valued at $209,000 after buying an additional 2,778 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Sunrun by 23.5% in the 1st quarter. Xponance Inc. now owns 20,089 shares of the energy company’s stock valued at $118,000 after buying an additional 3,824 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.