Sunrun Inc. (NASDAQ:RUN) Stock Has Consensus Target Price of $13.04 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Of 20 brokerages covering Sunrun, 11 recommend buying, eight rate it hold and one recommends selling. The average 12-month price target is $13.04.
• Latest quarterly results beat estimates: Sunrun reported earnings of $0.56 per share versus a $0.16 consensus estimate, and revenue of $1.10 billion versus estimates of about $758 million. Revenue increased 51.7% year over year.
• Shares traded at $8.63 in Friday midday trading, well below their one-year high of $21.95; the stock’s one-year low was $6.78.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.04.

Several research firms have weighed in on RUN. Royal Bank Of Canada lowered their price target on shares of Sunrun from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, November 6th. Citigroup reduced their price objective on Sunrun from $14.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, November 5th. Morgan Stanley reduced their price objective on Sunrun from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, October 14th. The Goldman Sachs Group reiterated a "buy" rating on shares of Sunrun in a research note on Thursday, November 5th. Finally, Weiss Ratings upgraded Sunrun from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, November 9th.

Sunrun Stock Performance

RUN stock traded up $0.11 during midday trading on Friday, reaching $8.63. 6,020,701 shares of the company were exchanged, compared to its average volume of 12,662,994. Sunrun has a one year low of $6.78 and a one year high of $21.95. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 4.36 and a beta of 2.35. The business has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $11.99. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.52 and a quick ratio of 1.05.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.40. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $757.53 million. Sunrun had a net margin of 14.01% and a return on equity of 12.31%. The company's revenue was up 51.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Equities research analysts forecast that Sunrun will post 1.76 EPS for the current year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 10,042 shares of Sunrun stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the sale, the insider owned 451,673 shares of the company's stock, valued at approximately $3,504,982.48. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a 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, CAO Maria Barak sold 3,256 shares of the business's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $9.35, for a total transaction of $30,443.60. Following the completion of the sale, the chief accounting officer directly owned 85,006 shares of the company's stock, valued at approximately $794,806.10. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 71,975 shares of company stock worth $563,721. 3.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in Sunrun in the 2nd quarter valued at about $25,000. Nykredit A S bought a new position in shares of Sunrun during the second quarter worth approximately $78,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Sunrun by 2,116.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 6,250 shares of the energy company's stock worth $49,000 after purchasing an additional 5,968 shares during the period. Parallel Advisors LLC raised its position in shares of Sunrun by 72.2% in the third quarter. Parallel Advisors LLC now owns 6,765 shares of the energy company's stock valued at $53,000 after buying an additional 2,837 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Sunrun in the second quarter valued at approximately $125,000. 91.69% of the stock is owned by institutional investors.

About Sunrun

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.

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