Sunrun (NASDAQ:RUN) Price Target Raised to $10.00

Key Points

• BMO Capital Markets has raised its price target for Sunrun from $8.00 to $10.00, indicating a potential upside of 10.25% from the current stock price.
• Sunrun's latest quarterly report showed earnings per share of $1.07, exceeding analysts' expectations and representing an 8.7% year-over-year revenue increase.
• Analysts maintain a consensus rating of "Hold" for Sunrun, with a target price averaging $14.60, reflecting mixed sentiments across various research firms.

Sunrun (NASDAQ:RUN - Get Free Report) had its target price hoisted by equities research analysts at BMO Capital Markets from $8.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "underperform" rating on the energy company's stock. BMO Capital Markets' target price suggests a potential downside of 15.61% from the company's current price.

RUN has been the topic of several other reports. Citigroup restated a "neutral" rating and set a $7.00 target price on shares of Sunrun in a report on Thursday, April 17th. Truist Financial reaffirmed a "hold" rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. TD Cowen raised their price target on Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday. Royal Bank Of Canada downgraded Sunrun from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $12.00 to $5.00 in a research report on Wednesday, June 18th. Finally, BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Monday, July 7th. Two research analysts have rated the stock with a sell rating, ten 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 data from MarketBeat, the company has an average rating of "Hold" and an average price target of $13.85.

Sunrun Price Performance

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

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

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 11,509 shares of Sunrun stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $124,297.20. Following the completion of the sale, the chief executive officer directly owned 893,240 shares of the company's stock, valued at approximately $9,646,992. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction on 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 approximately $4,747,896. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,939 shares of company stock valued at $430,264 over the last quarter. Company insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently made changes to their positions in RUN. Aster Capital Management DIFC Ltd bought a new stake in Sunrun in the 4th quarter worth about $29,000. Spire Wealth Management grew its position in shares of Sunrun by 960.0% during the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company's stock valued at $43,000 after acquiring an additional 4,800 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Sunrun during the 1st quarter valued at approximately $60,000. US Bancorp DE grew its position in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock valued at $60,000 after acquiring an additional 5,342 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Sunrun by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after acquiring an additional 6,129 shares during the period. 91.69% of the stock is 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.