Sunrun (NASDAQ:RUN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer increased Sunrun's price target from $21.00 to $23.00, indicating a potential upside of 15.13% based on the stock's previous close.
• Sunrun's stock rose 3.0% during mid-day trading, reaching a price of $19.98, with significant trading volume compared to its average.
• The company reported earnings of $1.07 per share for the recent quarter, significantly beating analysts' expectations of a loss.

Sunrun (NASDAQ:RUN - Get Free Report) had its price target increased by investment analysts at Oppenheimer from $21.00 to $23.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an "outperform" rating on the energy company's stock. Oppenheimer's price objective suggests a potential upside of 15.13% from the stock's previous close.

RUN has been the topic of a number of other reports. TD Cowen raised their price objective on shares of Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $20.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Wells Fargo & Company raised their price objective on shares of Sunrun from $8.00 to $14.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. The Goldman Sachs Group raised their price objective on shares of Sunrun from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Sunrun from a "hold" rating to a "buy" rating and raised their price objective for the company from $11.00 to $21.00 in a report on Wednesday, October 1st. Two 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 stock presently has an average rating of "Moderate Buy" and an average price target of $15.77.

Sunrun Stock Up 3.0%

Sunrun stock traded up $0.58 during mid-day trading on Thursday, reaching $19.98. 1,064,824 shares of the company's stock were exchanged, compared to its average volume of 16,066,653. The company has a market cap of $4.61 billion, a P/E ratio of -1.72 and a beta of 2.41. Sunrun has a twelve month low of $5.38 and a twelve month high of $20.25. 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 company has a fifty day moving average of $15.38 and a 200-day moving average of $10.72.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. During the same period last year, the business earned $0.55 EPS. The company's revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Sunrun will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 11,699 shares of the firm's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $19.34, for a total transaction of $226,258.66. Following the transaction, the chief executive officer directly owned 876,590 shares of the company's stock, valued at approximately $16,953,250.60. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total transaction of $965,500.00. Following the transaction, the director directly owned 850,482 shares in the company, 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. Insiders sold a total of 241,444 shares of company stock worth $4,408,513 in the last three months. Company insiders own 3.37% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sowell Financial Services LLC acquired a new stake in shares of Sunrun in the 1st quarter worth $273,000. GAMMA Investing LLC lifted its stake in shares of Sunrun by 572.1% in the 1st quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company's stock worth $421,000 after acquiring an additional 61,198 shares during the period. PGGM Investments lifted its stake in shares of Sunrun by 316.6% in the 2nd 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 during the period. Public Sector Pension Investment Board lifted its stake in shares of Sunrun by 27.1% in the 1st quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company's stock worth $4,169,000 after acquiring an additional 151,474 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Sunrun by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company's stock worth $6,545,000 after acquiring an additional 29,227 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

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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