The Goldman Sachs Group Increases Sunrun (NASDAQ:RUN) Price Target to $24.00

Sunrun (NASDAQ:RUN) had its price target raised by equities researchers at The Goldman Sachs Group from $21.00 to $24.00 in a research report issued 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 indicate a potential upside of 96.01% from the stock’s previous close.

A number of other equities analysts have also issued reports on RUN. TD Cowen increased their price target on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Oppenheimer lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Sunrun in a research report on Thursday, January 22nd. Morgan Stanley upped their target price on Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a report on Thursday. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Sunrun Stock Performance

RUN traded down $1.01 during trading on Monday, reaching $12.24. 11,993,530 shares of the company were exchanged, compared to its average volume of 9,448,286. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The firm has a 50 day moving average of $19.12 and a 200 day moving average of $18.40. The stock has a market cap of $2.84 billion, a P/E ratio of 7.15 and a beta of 2.36.

Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.46. Sunrun had a net margin of 15.22% and a return on equity of 11.72%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $610.29 million. During the same quarter in the prior year, the firm earned $1.41 EPS. Sunrun’s quarterly revenue was up 123.5% on a year-over-year basis. On average, sell-side analysts forecast 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 firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $155,821.20. Following the transaction, the chief executive officer owned 864,946 shares of the company’s stock, valued at $15,396,038.80. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Harris Fenster sold 163,844 shares of Sunrun stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $19.95, for a total value of $3,268,687.80. Following the transaction, the director directly owned 1,578,895 shares in the company, valued at approximately $31,498,955.25. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 468,800 shares of company stock worth $8,925,020. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Farther Finance Advisors LLC grew its position in shares of Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Sycomore Asset Management purchased a new position in Sunrun during the 3rd quarter valued at approximately $28,000. Hantz Financial Services Inc. increased its stake in Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $30,000. Finally, Optiver Holding B.V. bought a new position in shares of Sunrun during the 3rd quarter valued at approximately $31,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

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.