Sunrun (NASDAQ:RUN) Price Target Raised to $19.00

Key Points

• The Goldman Sachs Group raised Sunrun's price target from $15.00 to $19.00, indicating a potential upside of 15.33% from the current stock price.
• Sunrun recently reported a quarterly earnings per share of $1.07, outperforming the consensus estimate of ($0.18) by a significant margin.
• The stock currently has a consensus rating of "Moderate Buy" with varying ratings from analysts, including two Strong Buy, twelve Buy, and one Sell.

Sunrun (NASDAQ:RUN - Get Free Report) had its target price increased by The Goldman Sachs Group from $15.00 to $19.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the energy company's stock. The Goldman Sachs Group's target price indicates a potential upside of 15.33% from the company's current price.

A number of other research firms also recently issued reports on RUN. Wells Fargo & Company lifted their price objective on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. UBS Group lifted their target price on shares of Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Royal Bank Of Canada upgraded shares of Sunrun from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $12.00 to $16.00 in a research report on Monday, August 18th. Mizuho boosted their price objective on shares of Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, BMO Capital Markets boosted their price objective on shares of Sunrun from $8.00 to $10.00 and gave the stock an "underperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sunrun has a consensus rating of "Moderate Buy" and a consensus target price of $14.81.

Sunrun Stock Performance

RUN stock traded up $0.28 during mid-day trading on Thursday, hitting $16.48. 6,109,387 shares of the company were exchanged, compared to its average volume of 16,744,008. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. Sunrun has a 1-year low of $5.38 and a 1-year high of $21.77. The business has a 50 day simple moving average of $12.64 and a 200-day simple moving average of $9.29. The stock has a market capitalization of $3.80 billion, a PE ratio of -1.42 and a beta of 2.21.

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 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 for the quarter, compared to analysts' expectations of $555.42 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Sunrun's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Sunrun will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 7,077 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $16.75, for a total value of $118,539.75. Following the sale, the insider directly owned 415,126 shares in the company, valued at approximately $6,953,360.50. This trade represents a 1.68% 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 3,142 shares of Sunrun stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $16.93, for a total transaction of $53,194.06. Following the completion of the sale, the chief executive officer owned 888,289 shares of the company's stock, valued at $15,038,732.77. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,136 shares of company stock valued at $1,076,538. 3.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in shares of Sunrun by 6.3% during the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company's stock worth $183,000 after buying an additional 1,332 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Sunrun by 12.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company's stock valued at $110,000 after buying an additional 1,442 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock worth $72,000 after purchasing an additional 1,571 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position 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 acquiring an additional 1,586 shares during the period. Finally, Alterna Wealth Management Inc. boosted its position in shares of Sunrun by 16.6% in the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after buying an additional 1,720 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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