JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Sunrun (NASDAQ:RUN) Stock

Key Points

• JPMorgan Chase & Co. has raised its price target for Sunrun stock from $16.00 to $20.00, indicating a potential upside of 66.79% from its previous close, and maintains an "overweight" rating.
• Despite positive outlooks from some firms, Sunrun has received varying ratings, with recent downgrades from Royal Bank of Canada and Glj Research, reflecting a mixed sentiment among analysts.
• Sunrun recently reported $1.07 EPS, beating estimates significantly, and its revenue has increased by 8.7% year-over-year, showcasing growth in its financial performance.

Sunrun (NASDAQ:RUN - Get Free Report) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $16.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the energy company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 66.79% from the stock's previous close.

RUN has been the topic of several other research reports. Royal Bank Of Canada cut shares of Sunrun from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $12.00 to $5.00 in a report on Wednesday, June 18th. Glj Research downgraded Sunrun from a "hold" rating to a "sell" rating in a report on Tuesday, June 17th. Mizuho boosted their target price on Sunrun from $13.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. KeyCorp upgraded shares of Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Finally, UBS Group reduced their price target on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.80.

Sunrun Stock Up 32.2%

NASDAQ RUN traded up $2.92 during midday trading on Thursday, hitting $11.99. 44,119,349 shares of the company traded hands, compared to its average volume of 16,808,627. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.26. The company's 50-day simple moving average is $9.08 and its 200-day simple moving average is $8.25. The company has a market cap of $2.74 billion, a PE ratio of -0.99 and a beta of 2.37. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 129.97% and a positive return on equity of 9.42%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. As a group, equities research analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CFO Danny Abajian sold 8,909 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the completion of the sale, the chief financial officer owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 8,010 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the transaction, the executive directly owned 679,044 shares in the company, valued at approximately $7,340,465.64. The trade was a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,939 shares of company stock worth $430,264. Insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenvale Capital LLP boosted its position in Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. Sylebra Capital LLC raised its position in shares of Sunrun by 23.8% during the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock worth $48,482,000 after purchasing an additional 1,590,169 shares during the period. PGGM Investments lifted its holdings 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 valued at $57,319,000 after purchasing an additional 5,325,332 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Sunrun by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock worth $61,252,000 after purchasing an additional 1,427,858 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile

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.

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