Sunrun (NASDAQ:RUN) Price Target Raised to $12.00

Sunrun (NASDAQ:RUN - Get Free Report) had its target price raised by research analysts at Susquehanna from $10.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "positive" rating on the energy company's stock. Susquehanna's price objective suggests a potential upside of 16.79% from the stock's previous close.

Several other equities research analysts have also recently issued reports on RUN. KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. BNP Paribas raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Mizuho upped their price target on shares of Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, July 14th. BNP Paribas Exane raised shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Sunrun from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $14.30.

Sunrun Price Performance

Sunrun stock traded up $0.04 during trading hours on Monday, hitting $10.28. The stock had a trading volume of 5,135,891 shares, compared to its average volume of 13,427,362. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.26. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -0.85 and a beta of 2.60. The stock's fifty day moving average is $8.97 and its two-hundred day moving average is $8.22. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.42. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward Harris Fenster acquired 50,000 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $39,614.40. Following the transaction, the insider owned 439,620 shares in the company, valued at approximately $4,747,896. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,939 shares of company stock worth $430,264. 3.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PGGM Investments grew its position in Sunrun by 316.6% in the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after acquiring an additional 5,325,332 shares in the last quarter. Greenleaf Trust bought a new stake in Sunrun in the second quarter worth approximately $121,000. GC Wealth Management RIA LLC bought a new stake in Sunrun in the second quarter worth approximately $1,219,000. Sage Rhino Capital LLC bought a new stake in Sunrun in the second quarter worth approximately $87,000. Finally, Signaturefd LLC grew its position in Sunrun by 436.4% in the second quarter. Signaturefd LLC now owns 7,805 shares of the energy company's stock worth $64,000 after acquiring an additional 6,350 shares in the last quarter. Hedge funds and other 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.

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