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Sunrun (NASDAQ:RUN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Sunrun logo with Energy background

Key Points

  • Goldman Sachs has increased its price target for Sunrun from $19.00 to $21.00, suggesting an upside potential of 8.25% from its current stock price.
  • Sunrun reported a quarterly revenue of $569.34 million, exceeding expectations, with an earnings per share (EPS) of $1.07, significantly higher than the consensus estimate of ($0.18).
  • Various analysts have varying ratings on Sunrun, with a mix of ratings including two Strong Buy, thirteen Buy, and two Sell, indicating a generally positive outlook despite some caution.
  • MarketBeat previews top five stocks to own in November.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective increased by stock analysts at The Goldman Sachs Group from $19.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the energy company's stock. The Goldman Sachs Group's target price indicates a potential upside of 8.25% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Oppenheimer boosted their price objective on Sunrun from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sunrun in a research report on Wednesday. UBS Group raised their price objective on shares of Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. BMO Capital Markets increased their price target on shares of Sunrun from $8.00 to $10.00 and gave the company an "underperform" rating in a report on Thursday, August 7th. Finally, Mizuho increased their price target on shares of Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.69.

View Our Latest Analysis on RUN

Sunrun Stock Down 0.3%

Shares of NASDAQ RUN traded down $0.06 during trading hours on Wednesday, hitting $19.40. The stock had a trading volume of 7,640,937 shares, compared to its average volume of 10,447,330. The company has a market capitalization of $4.48 billion, a P/E ratio of 8.42 and a beta of 2.41. The firm's 50-day moving average price is $15.20 and its two-hundred day moving average price is $10.66. Sunrun has a 52 week low of $5.38 and a 52 week high of $20.25. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS 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 firm had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. During the same period in the prior year, the business posted $0.55 earnings per share. The business's quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the 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 transaction, the director owned 850,482 shares of the company's stock, valued at $16,422,807.42. This represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary Powell sold 3,142 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.93, for a total value of $53,194.06. Following the transaction, the chief executive officer owned 888,289 shares of the company's stock, valued at $15,038,732.77. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,092 shares of company stock valued at $3,464,174. Insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently modified their holdings of the business. Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun in the third quarter valued at about $492,000. GAMMA Investing LLC boosted its holdings in Sunrun by 3.5% during the third quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company's stock worth $311,000 after purchasing an additional 607 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Sunrun during the 2nd quarter worth about $102,000. Osaic Holdings Inc. lifted its position in Sunrun by 6.3% during the 2nd 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 in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Sunrun by 2.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 168,009 shares of the energy company's stock worth $1,374,000 after buying an additional 3,228 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Sunrun Company Profile

(Get Free Report)

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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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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