Sunrun (NASDAQ:RUN) Given New $14.00 Price Target at Citigroup

Key Points

• Citigroup lowered Sunrun’s price target to $14 from $16 while maintaining a “buy” rating, implying 83.25% upside from the stock’s $7.64 price.
• Analyst sentiment is mixed: 12 analysts rate Sunrun a Buy, eight a Hold, and two a Sell, with a consensus target price of $15.92.
• Sunrun’s latest quarter exceeded expectations, reporting $0.42 EPS versus $0.23 expected and $869.99 million in revenue, up 52.8% year over year.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective reduced by analysts at Citigroup from $16.00 to $14.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the energy company's stock. Citigroup's price target suggests a potential upside of 83.25% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of Sunrun from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Friday. The Goldman Sachs Group cut their price target on Sunrun from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday. Glj Research restated a "sell" rating and set a $4.63 price objective on shares of Sunrun in a research note on Monday, August 17th. Royal Bank Of Canada dropped their price objective on Sunrun from $18.00 to $14.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Finally, Mizuho set a $18.00 price objective on Sunrun in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.92.

Sunrun Stock Up 0.7%

NASDAQ:RUN traded up $0.05 during trading hours on Friday, hitting $7.64. The stock had a trading volume of 5,580,802 shares, compared to its average volume of 9,270,759. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. Sunrun has a 1-year low of $7.26 and a 1-year high of $22.44. The business has a 50 day simple moving average of $8.89 and a two-hundred day simple moving average of $11.56. The company has a market cap of $1.84 billion, a PE ratio of 5.16 and a beta of 2.44.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million for the quarter, compared to analysts' expectations of $746.87 million. During the same period in the previous year, the company posted $1.07 earnings per share. The business's revenue for the quarter was up 52.8% compared to the same quarter last year. Analysts predict that Sunrun will post 1.19 EPS for the current year.

Insider Buying and Selling

In other Sunrun news, CRO Paul Dickson sold 15,837 shares of the business's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $122,895.12. Following the sale, the executive directly owned 823,702 shares in the company, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the transaction, the director owned 367,405 shares in the company, valued at approximately $3,659,353.80. This trade represents a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 118,719 shares of company stock worth $1,031,277. 3.55% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently made changes to their positions in RUN. Cloverfields Capital Group LP boosted its stake in Sunrun by 1.7% in the 4th quarter. Cloverfields Capital Group LP now owns 55,320 shares of the energy company's stock valued at $1,018,000 after buying an additional 940 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Sunrun by 50.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company's stock valued at $55,000 after buying an additional 1,000 shares in the last quarter. Leonteq Securities AG raised its stake in shares of Sunrun by 26.8% in the first quarter. Leonteq Securities AG now owns 6,281 shares of the energy company's stock valued at $85,000 after acquiring an additional 1,327 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sunrun in the fourth quarter valued at $27,000. Finally, Van ECK Associates Corp raised its position in Sunrun by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 42,838 shares of the energy company's stock worth $573,000 after purchasing an additional 1,528 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.

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