Sunrun (NASDAQ:RUN) Price Target Raised to $21.00 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 price target increased by Oppenheimer from $20.00 to $21.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the energy company's stock.

A number of other analysts also recently weighed in on RUN. BNP Paribas Exane upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Monday, July 7th. Citigroup reaffirmed a "neutral" rating and set a $7.00 target price on shares of Sunrun in a research note on Thursday, April 17th. Truist Financial reaffirmed a "hold" rating and set a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a research report on Wednesday, April 23rd. Finally, BNP Paribas upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $13.85.

Sunrun Trading Down 1.3%

NASDAQ:RUN traded down $0.15 on Thursday, reaching $11.85. 18,586,180 shares of the stock traded hands, compared to its average volume of 14,596,043. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -1.02 and a beta of 2.37. The company's 50 day moving average is $9.27 and its 200-day moving average is $8.29. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 3.70. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.26.

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

Insider Transactions at Sunrun

In other Sunrun news, Director Edward Harris Fenster acquired 50,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the transaction, the director owned 1,408,182 shares in the company, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $96,217.20. Following the completion of the transaction, the chief financial officer directly owned 446,797 shares in the company, valued at approximately $4,825,407.60. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,939 shares of company stock worth $430,264. 3.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Creative Planning lifted its stake in Sunrun by 24.6% in the second quarter. Creative Planning now owns 394,805 shares of the energy company's stock valued at $3,230,000 after purchasing an additional 77,849 shares during the last quarter. SG Americas Securities LLC lifted its stake in Sunrun by 381.7% in the second quarter. SG Americas Securities LLC now owns 234,612 shares of the energy company's stock valued at $1,919,000 after purchasing an additional 185,904 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Sunrun by 9.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,662 shares of the energy company's stock valued at $480,000 after purchasing an additional 4,976 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Sunrun by 30.5% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 83,308 shares of the energy company's stock valued at $711,000 after buying an additional 19,486 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Sunrun by 7.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 50,279 shares of the energy company's stock valued at $411,000 after buying an additional 3,691 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other 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.