Zacks Research Upgrades Sunrun (NASDAQ:RUN) to "Strong-Buy"

Key Points

• Sunrun has been upgraded to a "strong-buy" rating by Zacks Research, indicating increasing confidence from analysts in the company's future performance.
• Shares of Sunrun are currently trading at $16.47, reflecting an increase of 2.7% during midday trading.
• Sunrun's earnings report showed an EPS of $1.07 for the quarter, exceeding expectations and marking an 8.7% revenue growth compared to the same quarter last year.

Zacks Research upgraded shares of Sunrun (NASDAQ:RUN - Free Report) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

RUN has been the topic of a number of other research reports. Royal Bank Of Canada raised shares of Sunrun from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $12.00 to $16.00 in a research report on Monday, August 18th. Mizuho boosted their target price on shares of Sunrun from $13.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Wall Street Zen raised shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. UBS Group boosted their target price on shares of Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Glj Research raised shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sunrun presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.81.

Sunrun Stock Up 0.3%

Shares of Sunrun stock traded up $0.05 on Monday, reaching $16.06. The stock had a trading volume of 7,208,464 shares, compared to its average volume of 16,037,362. The company has a 50 day moving average price of $12.86 and a 200 day moving average price of $9.39. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun has a 1 year low of $5.38 and a 1 year high of $21.77. The stock has a market capitalization of $3.71 billion, a P/E ratio of -1.38 and a beta of 2.21.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data 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. 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 quarter in the previous year, the firm earned $0.55 EPS. The company's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Sunrun will post -0.43 EPS for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 11,509 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 transaction of $124,297.20. Following the transaction, the chief executive officer directly owned 893,240 shares of the company's stock, valued at $9,646,992. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 17,417 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $16.25, for a total transaction of $283,026.25. Following the transaction, the insider directly owned 422,203 shares in the company, valued at approximately $6,860,798.75. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,136 shares of company stock valued at $1,076,538. Insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its holdings in Sunrun by 6.3% during the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company's stock valued at $183,000 after purchasing an additional 1,332 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Sunrun by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 168,009 shares of the energy company's stock valued at $1,374,000 after purchasing an additional 3,228 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Sunrun during the second quarter valued at $667,000. Marex Group plc purchased a new position in Sunrun during the second quarter valued at $2,948,000. Finally, Nomura Holdings Inc. raised its position in shares of Sunrun by 197.0% in the second quarter. Nomura Holdings Inc. now owns 120,612 shares of the energy company's stock valued at $987,000 after buying an additional 244,965 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other 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.