Brokerages Set Sunrun Inc. (RUN) Price Target at $9.56
Shares of Sunrun Inc. (NASDAQ:RUN) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.56.
RUN has been the subject of several research reports. ValuEngine raised Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) set a $10.00 price objective on Sunrun and gave the company a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC increased their price objective on Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Finally, BidaskClub cut Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th.
In other Sunrun news, insider Steven Vassallo sold 33,576 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $7.16, for a total transaction of $240,404.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $6.82, for a total value of $784,941.08. Following the transaction, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The disclosure for this sale can be found here. 24.13% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Sunrun by 0.8% during the second quarter. FMR LLC now owns 15,816,308 shares of the energy company’s stock worth $112,612,000 after acquiring an additional 125,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Sunrun by 6.7% during the second quarter. Vanguard Group Inc. now owns 5,853,579 shares of the energy company’s stock worth $41,677,000 after acquiring an additional 369,721 shares in the last quarter. Quentec Asset Management LLC raised its stake in Sunrun by 1.6% during the second quarter. Quentec Asset Management LLC now owns 5,216,058 shares of the energy company’s stock worth $37,139,000 after acquiring an additional 82,693 shares in the last quarter. State Street Corp raised its stake in Sunrun by 22.7% during the second quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock worth $11,596,000 after acquiring an additional 300,923 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. raised its stake in Sunrun by 4.1% during the first quarter. Uniplan Investment Counsel Inc. now owns 1,391,025 shares of the energy company’s stock worth $7,511,000 after acquiring an additional 55,368 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
Sunrun (NASDAQ:RUN) traded down 2.04% on Wednesday, hitting $6.72. 1,591,152 shares of the stock were exchanged. The company’s 50 day moving average price is $6.85 and its 200-day moving average price is $6.27. The company has a market cap of $713.40 million, a P/E ratio of 8.63 and a beta of -0.64. Sunrun has a one year low of $4.15 and a one year high of $7.34.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. The company had revenue of $137.85 million during the quarter, compared to analysts’ expectations of $143.35 million. During the same period in the prior year, the business earned $0.31 earnings per share. Sunrun’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts predict that Sunrun will post $1.01 EPS for the current fiscal year.
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Sunrun Company Profile
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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