Sunrun (NASDAQ:RUN) Upgraded at Morgan Stanley

Last updated on Tuesday, March 16, 2021 | 2021 MarketBeat

Sunrun (NASDAQ:RUN) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $86.00 target price on the energy company's stock. Morgan Stanley's price target would suggest a potential upside of 38.44% from the stock's previous close.

Several other research analysts have also weighed in on RUN. Barclays increased their price objective on shares of Sunrun from $57.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, November 16th. TheStreet lowered shares of Sunrun from a "c-" rating to a "d" rating in a report on Friday, February 26th. Capital One Financial upgraded shares of Sunrun from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $73.00 to $90.00 in a report on Monday, March 1st. KeyCorp raised their price target on shares of Sunrun from $52.00 to $74.00 and gave the company an "overweight" rating in a report on Monday, December 28th. Finally, Roth Capital raised their price target on shares of Sunrun from $70.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, January 26th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of "Buy" and an average target price of $78.06.

Shares of RUN stock opened at $62.12 on Tuesday. The firm has a market cap of $12.58 billion, a P/E ratio of 1,553.39 and a beta of 2.32. Sunrun has a 1-year low of $7.84 and a 1-year high of $100.93. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.08 and a quick ratio of 0.78. The firm's 50-day simple moving average is $68.29 and its 200-day simple moving average is $65.96.

In other news, CEO Lynn Michelle Jurich sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $86.45, for a total transaction of $3,458,000.00. Following the completion of the sale, the chief executive officer now owns 3,062,156 shares of the company's stock, valued at $264,723,386.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Bywater sold 263,328 shares of the firm's stock in a transaction that occurred on Friday, December 18th. The stock was sold at an average price of $63.72, for a total transaction of $16,779,260.16. Following the sale, the chief executive officer now directly owns 347,241 shares of the company's stock, valued at approximately $22,126,196.52. The disclosure for this sale can be found here. Insiders have sold 1,188,201 shares of company stock worth $83,373,670 in the last quarter. Insiders own 8.55% of the company's stock.

Several hedge funds have recently added to or reduced their stakes in RUN. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Sunrun during the first quarter worth approximately $732,000. Raymond James & Associates boosted its holdings in Sunrun by 2.5% in the third quarter. Raymond James & Associates now owns 28,277 shares of the energy company's stock worth $2,179,000 after purchasing an additional 681 shares during the period. CIBC Asset Management Inc acquired a new position in Sunrun in the third quarter worth $369,000. Creative Planning acquired a new position in Sunrun in the third quarter worth $1,152,000. Finally, California Public Employees Retirement System boosted its holdings in Sunrun by 5.5% in the third quarter. California Public Employees Retirement System now owns 248,132 shares of the energy company's stock worth $19,124,000 after purchasing an additional 12,932 shares during the period. 85.35% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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