Sunrun (NASDAQ:RUN) Given New $21.00 Price Target at Oppenheimer

Key Points

• Oppenheimer raised its price target for Sunrun from $20.00 to $21.00, suggesting a potential upside of 74.40% from the current price.
• Sunrun reported $1.07 earnings per share for the last quarter, significantly exceeding the consensus estimate of (-$0.18).
• Analysts currently have an average rating of "Hold" for Sunrun, with a price target of $14.64 based on mixed assessments from various research firms.

Sunrun (NASDAQ:RUN - Free Report) had its target price lifted by Oppenheimer from $20.00 to $21.00 in a research note published on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the energy company's stock.

A number of other research analysts have also recently weighed in on the company. The Goldman Sachs Group raised their price target on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Truist Financial reissued a "hold" rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Mizuho lifted their price objective on Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Susquehanna lifted their price objective on Sunrun from $12.00 to $13.00 and gave the company a "positive" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.85.

Sunrun Trading Down 0.9%

Shares of RUN stock traded down $0.10 on Thursday, hitting $11.75. 7,974,967 shares of the stock traded hands, compared to its average volume of 16,797,807. The firm's 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.28. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The stock has a market capitalization of $2.71 billion, a PE ratio of -1.01 and a beta of 2.37. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $1.25. The firm had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. Sunrun's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. As a group, analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 8,909 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 446,797 shares of the company's stock, valued at approximately $4,825,407.60. The trade was a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 11,509 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $124,297.20. Following the completion of the transaction, the chief executive officer owned 893,240 shares in the company, valued at approximately $9,646,992. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently bought and sold shares of RUN. Greenvale Capital LLP lifted its stake in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. boosted its position 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 acquiring an additional 10,294,947 shares during the last quarter. Sylebra Capital LLC lifted its holdings in shares of Sunrun by 23.8% during the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock valued at $48,482,000 after acquiring an additional 1,590,169 shares in the last quarter. PGGM Investments increased its position in shares of Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after purchasing an additional 5,325,332 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sunrun by 27.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock valued at $61,252,000 after buying an additional 1,427,858 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.