Mizuho Issues Positive Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN - Get Free Report) had its target price hoisted by equities researchers at Mizuho from $13.00 to $21.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. Mizuho's target price would indicate a potential upside of 102.70% from the stock's current price.

Several other brokerages have also issued reports on RUN. Wall Street Zen raised shares of Sunrun from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada lowered shares of Sunrun from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $12.00 to $5.00 in a report on Wednesday, June 18th. KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Jefferies Financial Group raised Sunrun from an "underperform" rating to a "hold" rating and increased their price target for the company from $5.00 to $11.00 in a research note on Wednesday, July 9th. Finally, BNP Paribas upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Sunrun has a consensus rating of "Hold" and a consensus price target of $14.30.

Sunrun Stock Performance

RUN stock traded up $0.25 during midday trading on Monday, hitting $10.36. 14,823,438 shares of the company traded hands, compared to its average volume of 17,168,049. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.26. The business has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $8.19. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -0.85 and a beta of 2.60.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. During the same period in the previous year, the business posted ($0.40) EPS. The company's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Sunrun will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Mary Powell sold 11,509 shares of Sunrun stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $124,297.20. Following the completion of the sale, the chief executive officer owned 893,240 shares of the company's stock, valued at approximately $9,646,992. This trade represents a 1.27% 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. Also, insider Jeanna Steele sold 3,668 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $39,614.40. Following the completion of the sale, the insider directly owned 439,620 shares of the company's stock, valued at $4,747,896. This represents a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,939 shares of company stock worth $430,264 over the last three months. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Sunrun in the 4th quarter valued at $29,000. Summit Securities Group LLC bought a new stake in shares of Sunrun during the 4th quarter worth $53,000. Apollon Wealth Management LLC bought a new stake in shares of Sunrun during the 1st quarter worth $60,000. US Bancorp DE raised its stake in Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after acquiring an additional 5,342 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Sunrun by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock worth $64,000 after acquiring an additional 6,129 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

About Sunrun

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.