Susquehanna Cuts Sunrun (NASDAQ:RUN) Price Target to $18.00

Key Points

• Susquehanna lowered its price target on Sunrun from $19 to $18, while keeping a positive rating on the stock. The new target still implies about 44% upside from the prior close.
• Other analysts have also trimmed their Sunrun price targets, and the stock currently carries a Hold consensus rating with an average target price of $18.81. Views remain mixed, with both buy and sell ratings in the mix.
• Sunrun recently beat quarterly expectations, reporting $0.62 EPS versus an expected loss and revenue that topped estimates, while revenue rose 43.2% year over year. However, recent insider sales by executives may be pressuring sentiment.

Sunrun (NASDAQ:RUN - Get Free Report) had its price target decreased by investment analysts at Susquehanna from $19.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "positive" rating on the energy company's stock. Susquehanna's price target suggests a potential upside of 44.46% from the company's previous close.

A number of other equities research analysts have also issued reports on RUN. Barclays reduced their target price on shares of Sunrun from $23.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. UBS Group cut their price objective on Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. TD Cowen reduced their price objective on Sunrun from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group reiterated a "buy" rating and issued a $18.00 target price on shares of Sunrun in a report on Thursday, May 7th. Finally, Glj Research restated a "sell" rating on shares of Sunrun in a report on Wednesday, June 24th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.81.

Sunrun Stock Performance

NASDAQ RUN opened at $12.46 on Friday. The company has a market cap of $2.97 billion, a P/E ratio of 5.85 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The stock has a 50-day moving average of $13.65 and a two-hundred day moving average of $15.28. Sunrun has a 1-year low of $9.01 and a 1-year high of $22.44.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business had revenue of $722.23 million for the quarter, compared to analysts' expectations of $688.50 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business's quarterly revenue was up 43.2% on a year-over-year basis. As a group, analysts anticipate that Sunrun will post 1.09 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 23,985 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the sale, the chief executive officer owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,613 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the sale, the executive directly owned 839,539 shares of the company's stock, valued at approximately $11,065,124.02. This represents a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 223,045 shares of company stock valued at $3,081,335. Insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Sunrun by 5.1% during the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company's stock worth $3,672,000 after acquiring an additional 30,175 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Sunrun by 47.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company's stock worth $192,000 after acquiring an additional 10,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company's stock valued at $1,397,000 after purchasing an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Sunrun by 511.0% during the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company's stock valued at $158,000 after buying an additional 22,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock valued at $13,518,000 after acquiring an additional 718,955 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

More Sunrun News

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun launched a distributed AI data center pilot that could turn its residential solar and battery network into a new, higher-margin revenue stream by hosting AI compute at customers’ homes. Article Title
• Positive Sentiment: Several bullish articles and analyst commentary suggested the AI pilot could be a meaningful catalyst for the stock, and unusual call option buying showed traders positioning for more upside. Article Title
• Neutral Sentiment: Media coverage around the AI data center idea kept Sunrun in the spotlight, but some reports noted the news has not yet translated into a full stock re-rating. Article Title
• Negative Sentiment: Chief accounting officer Maria Barak sold 3,278 shares in a pre-arranged Rule 10b5-1 plan, adding to insider-selling headlines that can weigh on sentiment. Article Title
• Negative Sentiment: Another insider sale by CEO Mary Powell was also reported, which may make some investors cautious despite the company’s recent operational and strategic news. Article Title

About Sunrun

Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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