Sunrun (NASDAQ:RUN) Price Target Raised to $25.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target for Sunrun from $23.00 to $25.00, indicating a potential upside of 21.04% based on the stock's previous close.
• Multiple brokerages have issued favorable ratings for Sunrun, with Jefferies upgrading it to a "buy" and a consensus rating overall classified as "Moderate Buy".
• Despite the positive outlooks, Sunrun's stock recently dipped 3.0% to $20.65, with a market capitalization of $4.77 billion and a recent earnings report that exceeded expectations.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $23.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 21.04% from the company's previous close.

A number of other brokerages have also issued reports on RUN. Jefferies Financial Group upgraded shares of Sunrun from a "hold" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $21.00 in a research note on Wednesday, October 1st. BMO Capital Markets set a $19.00 price objective on Sunrun and gave the stock a "market perform" rating in a research report on Wednesday. BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Monday, July 7th. Cowen reissued a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. Finally, UBS Group boosted their price objective on Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.08.

Sunrun Trading Down 3.0%

NASDAQ:RUN traded down $0.64 on Thursday, reaching $20.65. 2,082,844 shares of the company's stock were exchanged, compared to its average volume of 15,909,030. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -1.78 and a beta of 2.41. The business has a fifty day moving average of $16.46 and a 200-day moving average of $11.21. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44.

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

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 9,055 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the completion of the sale, the chief financial officer directly owned 424,606 shares of the company's stock, valued at approximately $8,216,126.10. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total value of $965,500.00. Following the completion of the sale, the director directly owned 850,482 shares of the company's stock, valued at $16,422,807.42. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 262,481 shares of company stock valued at $4,834,513. 3.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Several large investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Sunrun by 53.0% during the third quarter. CWM LLC now owns 8,119 shares of the energy company's stock worth $140,000 after purchasing an additional 2,812 shares during the last quarter. Norden Group LLC raised its stake in shares of Sunrun by 16.7% during the third quarter. Norden Group LLC now owns 240,596 shares of the energy company's stock worth $4,160,000 after purchasing an additional 34,361 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Sunrun by 37.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 27,507 shares of the energy company's stock worth $476,000 after purchasing an additional 7,507 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Sunrun by 9.8% during the third quarter. Voya Investment Management LLC now owns 63,602 shares of the energy company's stock worth $1,100,000 after purchasing an additional 5,685 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Sunrun during the third quarter worth approximately $492,000. 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.

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.