The Goldman Sachs Group Issues Positive Forecast for Sunrun (NASDAQ:RUN) Stock Price

Key Points

• Goldman Sachs raised its price target on Sunrun from $21 to $24 and kept a "buy" rating, implying roughly a 96% upside from the current share price.
• Shares fell about 7.6% to $12.24 despite a strong quarter that beat expectations (revenue $1.16B and EPS $0.38), and the stock trades well below its 50‑day and 200‑day averages (~$19 and $18).
• Analysts' consensus is a Moderate Buy with a $20.30 average target, while insiders have been net sellers and institutional ownership is high (≈91.7%).

Sunrun (NASDAQ:RUN - Get Free Report) had its price target upped by stock analysts at The Goldman Sachs Group from $21.00 to $24.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the energy company's stock. The Goldman Sachs Group's price objective would suggest a potential upside of 96.01% from the company's current price.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company raised their price target on shares of Sunrun from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, November 11th. Jefferies Financial Group downgraded Sunrun from a "buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a research note on Friday. Morgan Stanley upped their target price on shares of Sunrun from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 2nd. TD Cowen increased their price objective on shares of Sunrun from $22.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Sunrun in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Sunrun Stock Down 7.6%

RUN traded down $1.01 on Monday, hitting $12.24. The company had a trading volume of 11,993,530 shares, compared to its average volume of 9,448,286. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 7.15 and a beta of 2.36. The stock has a fifty day moving average price of $19.12 and a 200-day moving average price of $18.40. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.44. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.46. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $610.29 million. During the same quarter last year, the company posted $1.41 earnings per share. The business's quarterly revenue was up 123.5% on a year-over-year basis. Analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mary Powell sold 8,754 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $155,821.20. Following the sale, the chief executive officer owned 864,946 shares of the company's stock, valued at $15,396,038.80. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Harris Fenster sold 163,844 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $19.95, for a total transaction of $3,268,687.80. Following the completion of the sale, the director directly owned 1,578,895 shares in the company, valued at $31,498,955.25. This trade represents a 9.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 468,800 shares of company stock valued at $8,925,020 in the last quarter. Insiders own 3.37% of the company's stock.

Institutional Inflows and Outflows

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

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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