The Goldman Sachs Group Lowers Sunrun (NASDAQ:RUN) Price Target to $13.00

Key Points

• Goldman Sachs lowered Sunrun’s price target from $15 to $13 while maintaining a “buy” rating, implying roughly 52.4% upside from the stock’s $8.53 price.
• Analyst sentiment is mixed: Sunrun has an average “hold” rating and a consensus price target of $16.70, despite 12 buy, eight hold, and two sell ratings.
• Sunrun beat quarterly expectations, reporting $0.42 in earnings per share versus a $0.23 estimate and $869.99 million in revenue, up 52.8% year over year.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective decreased by stock analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the energy company's stock. The Goldman Sachs Group's target price suggests a potential upside of 52.40% from the company's current price.

RUN has been the topic of a number of other reports. Citigroup dropped their price target on shares of Sunrun from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. TD Cowen reduced their price objective on shares of Sunrun from $21.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Glj Research reiterated a "sell" rating and issued a $4.63 price objective on shares of Sunrun in a research note on Monday, August 17th. Roth Capital reissued a "buy" rating on shares of Sunrun in a research report on Thursday, July 9th. Finally, UBS Group cut their target price on Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.70.

Sunrun Stock Performance

Shares of Sunrun stock opened at $8.53 on Monday. The stock has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $11.98. Sunrun has a 12-month low of $8.19 and a 12-month high of $22.44. The company has a market capitalization of $2.05 billion, a P/E ratio of 5.76 and a beta of 2.37. 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 (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to analysts' expectations of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business's revenue was up 52.8% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. On average, sell-side analysts anticipate that Sunrun will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Jurich sold 50,000 shares of Sunrun stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.96, for a total value of $498,000.00. Following the sale, the director owned 367,405 shares of the company's stock, valued at approximately $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 16,495 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the transaction, the chief financial officer owned 420,318 shares in the company, valued at approximately $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 171,015 shares of company stock valued at $2,111,653 in the last three months. 3.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Sunrun by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock valued at $88,375,000 after buying an additional 165,196 shares during the period. Geode Capital Management LLC increased its holdings in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock worth $104,220,000 after acquiring an additional 205,627 shares during the last quarter. Contour Asset Management LLC purchased a new stake in Sunrun in the 4th quarter worth about $98,010,000. Maple Rock Capital Partners Inc. raised its stake in Sunrun by 23.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company's stock valued at $49,433,000 after acquiring an additional 692,448 shares during the period. Finally, Amundi raised its stake in Sunrun by 3.9% in the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company's stock valued at $45,845,000 after acquiring an additional 127,878 shares during the period. 91.69% of the stock is owned by institutional investors.

Sunrun Company Profile

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.

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