Royal Bank Of Canada Raises Sunrun (NASDAQ:RUN) Price Target to $22.00

Key Points

• Royal Bank of Canada has raised its price target for Sunrun from $16.00 to $22.00, maintaining an "outperform" rating and indicating a potential upside of 9.18% from the current stock price.
• Sunrun recently reported earnings of $1.07 per share, significantly surpassing estimates, with a revenue increase of 8.7% year-over-year.
• Insider trading activity has shown executives at Sunrun selling significant amounts of stock, with recent sales totaling over $4.9 million in the past three months.

Sunrun (NASDAQ:RUN - Get Free Report) had its price target increased by research analysts at Royal Bank Of Canada from $16.00 to $22.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the energy company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 9.18% from the stock's current price.

RUN has been the subject of a number of other reports. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Jefferies Financial Group upgraded shares of Sunrun from a "hold" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $21.00 in a report on Wednesday, October 1st. The Goldman Sachs Group increased their target price on Sunrun from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. TD Cowen boosted their price target on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets set a $19.00 price objective on Sunrun and gave the stock a "market perform" rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.34.

Sunrun Stock Up 3.3%

Shares of NASDAQ:RUN opened at $20.15 on Monday. The company has a 50 day moving average price of $16.78 and a two-hundred day moving average price of $11.46. 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 company has a market capitalization of $4.65 billion, a PE ratio of -1.73 and a beta of 2.41. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results 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 positive return on equity of 14.19% and a negative net margin of 120.59%.The firm had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 12,493 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $20.02, for a total value of $250,109.86. Following the completion of the transaction, the executive directly owned 647,600 shares of the company's stock, valued at approximately $12,964,952. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 9,055 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $19.35, for a total transaction of $175,214.25. Following the transaction, the chief financial officer owned 424,606 shares in the company, valued at $8,216,126.10. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,956 shares of company stock worth $4,931,665 in the last three months. Insiders own 3.37% of the company's stock.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. GAMMA Investing LLC grew its stake in Sunrun by 3.5% in the 3rd quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company's stock valued at $311,000 after buying an additional 607 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Sunrun by 6.3% in the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company's stock worth $183,000 after acquiring an additional 1,332 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Sunrun by 12.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company's stock valued at $110,000 after purchasing an additional 1,442 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Sunrun by 0.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 268,167 shares of the energy company's stock valued at $2,195,000 after purchasing an additional 1,586 shares during the period. Finally, Alterna Wealth Management Inc. lifted its holdings in Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after purchasing an additional 1,720 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.