The Goldman Sachs Group Boosts Sunrun (NASDAQ:RUN) Price Target to $21.00

Sunrun (NASDAQ:RUN) had its price objective boosted by stock analysts at The Goldman Sachs Group from $19.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 3.35% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Cowen reiterated a “buy” rating on shares of Sunrun in a report on Thursday, August 7th. TD Cowen lifted their price target on shares of Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. BNP Paribas Exane upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Monday, July 7th. Glj Research upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Royal Bank Of Canada upgraded shares of Sunrun from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $12.00 to $16.00 in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.77.

Sunrun Stock Performance

NASDAQ:RUN opened at $20.32 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -1.75 and a beta of 2.41. The company’s 50-day moving average is $15.59 and its two-hundred day moving average is $10.81. Sunrun has a 1-year low of $5.38 and a 1-year high of $21.08.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. Analysts forecast that Sunrun will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 9,055 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total value of $965,500.00. Following the transaction, the director owned 850,482 shares in the company, valued at $16,422,807.42. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,444 shares of company stock worth $4,408,513. Insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Large investors have recently bought and sold shares of the business. Sowell Financial Services LLC acquired a new stake in Sunrun in the first quarter valued at about $273,000. GAMMA Investing LLC boosted its stake in shares of Sunrun by 572.1% during the first quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company’s stock valued at $421,000 after purchasing an additional 61,198 shares in the last quarter. PGGM Investments raised its position in shares of Sunrun by 316.6% during the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock worth $57,319,000 after acquiring an additional 5,325,332 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Sunrun by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock worth $4,169,000 after purchasing an additional 151,474 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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. 91.69% of the stock is owned by institutional investors and hedge funds.

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.