Brokerages Set Sunrun Inc. (NASDAQ:RUN) Target Price at $18.48

Shares of Sunrun Inc. (NASDAQ:RUN) have been given a consensus rating of “Moderate Buy” by the twenty-three research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $18.4815.

Several analysts have recently weighed in on RUN shares. Mizuho reduced their price objective on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Loop Capital set a $12.00 price objective on shares of Sunrun in a research report on Tuesday, March 3rd. Oppenheimer boosted their price objective on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $18.00 price objective on shares of Sunrun in a research report on Thursday, May 7th.

Sunrun Stock Up 4.5%

Shares of NASDAQ:RUN opened at $15.89 on Friday. The company has a market capitalization of $3.79 billion, a PE ratio of 7.46 and a beta of 2.25. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.44. The firm has a 50 day simple moving average of $13.32 and a 200-day simple moving average of $16.34.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The company’s revenue was up 43.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, equities analysts predict that Sunrun will post 1.09 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 193,002 shares of Sunrun stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the transaction, the chief executive officer directly owned 934,282 shares in the company, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 76,478 shares of Sunrun stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the completion of the transaction, the insider owned 384,538 shares in the company, valued at approximately $5,095,128.50. This represents a 16.59% 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. Insiders have sold 716,050 shares of company stock worth $9,463,809 over the last 90 days. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RUN. Royal Bank of Canada increased its stake in Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after purchasing an additional 30,175 shares during the period. Integrated Wealth Concepts LLC increased its stake in Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after purchasing an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 during the period. Jones Financial Companies Lllp increased its stake in Sunrun by 511.0% in 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. increased its stake in Sunrun by 45.3% in 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 purchasing an additional 718,955 shares during the period. 91.69% of the stock is currently 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.