Sunrun Inc. (NASDAQ:RUN) Stock Has Average Price Target of $14.39

Key Points

• Analysts hold a consensus “Hold” rating on Sunrun, with 12 buys, 7 holds and 2 sells among 21 firms. The average 12-month price target is $14.39, above the stock’s reported opening price of $7.57.
• Sunrun exceeded quarterly expectations, reporting $0.42 in EPS versus a $0.23 estimate and revenue of $869.99 million, up 52.8% year over year and above the $746.87 million consensus forecast.
• The stock remains highly volatile and leveraged, with a beta of 2.44, debt-to-equity ratio of 3.34 and a recent range of $6.78 to $21.95. Insiders sold shares primarily to cover tax obligations, while institutional investors own 91.69% of the company.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) has received a consensus rating of "Hold" from the twenty-one research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.39.

Several research firms recently issued reports on RUN. Roth Capital reaffirmed a "buy" rating on shares of Sunrun in a research note on Thursday, July 9th. Glj Research reiterated a "sell" rating and issued a $4.63 price objective on shares of Sunrun in a report on Monday, August 17th. Citigroup lowered their target price on shares of Sunrun from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company cut their target price on Sunrun from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Sunrun in a research report on Thursday, August 6th.

Sunrun Price Performance

NASDAQ RUN opened at $7.57 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $1.82 billion, a PE ratio of 5.11 and a beta of 2.44. The company has a 50 day moving average price of $8.46 and a two-hundred day moving average price of $11.25. Sunrun has a 12-month low of $6.78 and a 12-month high of $21.95.

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 the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The company's revenue for the quarter was up 52.8% compared to the same quarter last year. As a group, equities analysts predict that Sunrun will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 24,335 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $188,839.60. Following the transaction, the chief executive officer directly owned 1,087,200 shares of the company's stock, valued at approximately $8,436,672. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 10,042 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares in the company, valued at $3,504,982.48. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 118,719 shares of company stock worth $1,031,277 in the last 90 days. Company insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Allworth Financial LP acquired a new position in shares of Sunrun during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Sunrun during the 4th quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Sunrun in the 1st quarter valued at approximately $36,000. Nykredit A S acquired a new stake in Sunrun in the 2nd quarter valued at approximately $78,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Sunrun in the 3rd quarter valued at approximately $80,000. Institutional investors and hedge funds own 91.69% of the company's stock.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.

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