Susquehanna Increases Sunrun (NASDAQ:RUN) Price Target to $23.00

Key Points

• Susquehanna has raised its price target for Sunrun from $13.00 to $23.00, suggesting a potential upside of 13.37% from the current stock price.
• Multiple analysts have issued positive ratings: Goldman Sachs increased its target to $21.00, while Wells Fargo raised their target to $14.00, reflecting growing confidence in Sunrun's performance.
• The company reported a significant surprise in earnings, posting $1.07 EPS for the last quarter, beating estimates and indicating a year-over-year revenue growth of 8.7%.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective boosted by stock analysts at Susquehanna from $13.00 to $23.00 in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a "positive" rating on the energy company's stock. Susquehanna's price target suggests a potential upside of 13.37% from the company's current price.

RUN has been the topic of several other reports. The Goldman Sachs Group increased their price target on shares of Sunrun from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Sunrun from $8.00 to $14.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Glj Research upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Friday, August 15th. BNP Paribas Exane upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Monday, July 7th. Finally, Royal Bank Of Canada raised shares of Sunrun from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $12.00 to $16.00 in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.21.

Sunrun Price Performance

Shares of RUN stock traded up $1.49 during trading hours on Monday, hitting $20.29. The company's stock had a trading volume of 1,047,395 shares, compared to its average volume of 16,022,168. The business has a fifty day moving average of $15.76 and a 200-day moving average of $10.97. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -1.75 and a beta of 2.41. Sunrun has a twelve month low of $5.38 and a twelve month high of $21.08. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly 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. The business had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the sale, the director owned 850,482 shares of the company's stock, valued at $16,422,807.42. The trade was a 5.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeanna Steele sold 1,526 shares of the business's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $19.75, for a total transaction of $30,138.50. Following the completion of the sale, the insider directly owned 387,301 shares of the company's stock, valued at $7,649,194.75. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,444 shares of company stock worth $4,408,513 over the last three months. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Sunrun by 3.5% during the 3rd 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. Osaic Holdings Inc. increased its stake in shares of 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 purchasing an additional 1,332 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Sunrun by 12.0% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company's stock worth $110,000 after purchasing an additional 1,442 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Sunrun by 0.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 268,167 shares of the energy company's stock worth $2,195,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Alterna Wealth Management Inc. increased its stake in shares of Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after purchasing an additional 1,720 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

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.

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