Sunrun (NASDAQ:RUN) Price Target Raised to $14.00

Key Points

• TD Cowen raised Sunrun's price objective from $13.00 to $14.00, indicating a potential upside of 54.36% from its previous close, and maintains a "buy" rating on the stock.
• Sunrun recently reported earnings of $1.07 per share, significantly beating consensus estimates, and its revenue grew by 8.7% year-over-year to $569.34 million.
• Institutional investors currently hold 91.69% of Sunrun's stock, with notable increases in holdings from several hedge funds during the last quarter.

Sunrun (NASDAQ:RUN - Free Report) had its target price boosted by TD Cowen from $13.00 to $14.00 in a research report report published on Thursday morning, MarketBeat reports. The firm currently has a buy rating on the energy company's stock.

RUN has been the subject of several other reports. Morgan Stanley restated an "equal weight" rating and set a $11.00 target price on shares of Sunrun in a research note on Wednesday, April 23rd. Jefferies Financial Group upgraded Sunrun from an "underperform" rating to a "hold" rating and upped their target price for the stock from $5.00 to $11.00 in a research note on Wednesday, July 9th. Mizuho upped their target price on Sunrun from $13.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. UBS Group cut their target price on Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, BNP Paribas upgraded Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.85.

Sunrun Price Performance

Sunrun stock traded down $0.15 during trading hours on Thursday, reaching $11.85. 18,586,180 shares of the stock were exchanged, compared to its average volume of 14,596,043. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 3.70. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.26. The company has a market cap of $2.73 billion, a P/E ratio of -1.02 and a beta of 2.37. The stock has a 50 day moving average of $9.27 and a two-hundred day moving average of $8.29.

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

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 8,010 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive directly owned 679,044 shares in the company, valued at $7,340,465.64. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanna Steele sold 3,668 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the completion of the sale, the insider owned 439,620 shares of the company's stock, valued at $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. Insiders sold a total of 41,939 shares of company stock valued at $430,264 over the last ninety days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of large investors have recently bought and sold shares of the business. Greenvale Capital LLP grew its holdings in Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after purchasing an additional 10,294,947 shares in the last quarter. Sylebra Capital LLC boosted its position in shares of Sunrun by 23.8% during the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock worth $48,482,000 after purchasing an additional 1,590,169 shares in the last quarter. PGGM Investments boosted its position in shares of Sunrun by 316.6% during the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after purchasing an additional 5,325,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sunrun by 27.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock worth $61,252,000 after purchasing an additional 1,427,858 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.