Sunrun (NASDAQ:RUN) Sets New 12-Month High - Time to Buy?

Key Points

• Sunrun's stock reached a new 52-week high, trading at $20.25, with a closing price of $19.87 and significant trading volume of over 5 million shares.
• Analysts have shown increased confidence in Sunrun, with multiple brokerages raising their price targets and issuing "buy" or "outperform" ratings, projecting potential growth in the stock value.
• The company reported strong quarterly earnings, exceeding estimates with $1.07 earnings per share and $569.34 million in revenue, reflecting an 8.7% year-over-year increase.

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $20.25 and last traded at $19.87, with a volume of 5171041 shares trading hands. The stock had previously closed at $19.25.

Analyst Ratings Changes

Several brokerages have weighed in on RUN. Jefferies Financial Group upgraded Sunrun from a "hold" rating to a "buy" rating and boosted their price objective for the company from $11.00 to $21.00 in a research report on Wednesday, October 1st. The Goldman Sachs Group boosted their target price on Sunrun from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Mizuho boosted their target price on Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Oppenheimer boosted their target price on Sunrun from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $15.60.

Sunrun Stock Performance

The company has a market capitalization of $4.57 billion, a PE ratio of -1.71 and a beta of 2.41. The company has a 50 day moving average of $15.02 and a two-hundred day moving average of $10.60. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02.

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 for the quarter, topping the consensus estimate of ($0.18) by $1.25. The company had revenue of $569.34 million for the quarter, compared to analysts' expectations of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, equities research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total value of $965,500.00. Following the sale, the director directly owned 850,482 shares of the company's stock, valued at approximately $16,422,807.42. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeanna Steele sold 20,426 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.35, for a total value of $395,243.10. Following the completion of the sale, the insider directly owned 393,267 shares in the company, valued at $7,609,716.45. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,092 shares of company stock valued at $3,464,174. Company insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently added to or reduced their stakes in RUN. GAMMA Investing LLC lifted its holdings in Sunrun by 3.5% in the third quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company's stock valued at $311,000 after acquiring an additional 607 shares during the period. Osaic Holdings Inc. lifted its holdings in Sunrun by 6.3% in the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company's stock valued at $183,000 after acquiring an additional 1,332 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in 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 acquiring an additional 1,442 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Sunrun by 0.6% in the second 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. lifted its holdings in Sunrun by 16.6% in the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock valued at $71,000 after acquiring an additional 1,720 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.

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