Guggenheim Upgrades Sunrun (NASDAQ:RUN) to Buy

Sunrun (NASDAQ:RUN) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a $27.00 target price on the energy company’s stock. Guggenheim’s target price indicates a potential upside of 57.62% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group raised shares of Sunrun from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $21.00 in a report on Wednesday, October 1st. Mizuho increased their price target on shares of Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. BMO Capital Markets set a $19.00 price objective on shares of Sunrun and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Finally, Oppenheimer boosted their price target on Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Sunrun Price Performance

Shares of RUN opened at $17.13 on Monday. The firm has a fifty day simple moving average of $18.43 and a two-hundred day simple moving average of $12.92. The firm has a market cap of $3.95 billion, a PE ratio of -1.48 and a beta of 2.35. 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 has a 1-year low of $5.38 and a 1-year high of $22.44.

Sunrun (NASDAQ:RUN) last announced its earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The business’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period last year, the firm posted ($0.37) earnings per share. On average, equities analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In related news, CRO Paul S. Dickson sold 25,614 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $20.00, for a total value of $512,280.00. Following the completion of the transaction, the executive owned 655,734 shares of the company’s stock, valued at approximately $13,114,680. This represents a 3.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Ferber sold 10,927 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the sale, the director owned 54,947 shares of the company’s stock, valued at $617,604.28. The trade was a 16.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 316,956 shares of company stock worth $5,952,165 in the last 90 days. Company insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Sunrun by 132.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after buying an additional 1,609,803 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Sunrun during the third quarter worth $2,275,000. Crestwood Advisors Group LLC boosted its position in shares of Sunrun by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company’s stock worth $608,000 after acquiring an additional 644 shares during the last quarter. Vanguard Group Inc. grew its stake in Sunrun by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock valued at $418,300,000 after acquiring an additional 288,945 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Sunrun in the 3rd quarter valued at $2,495,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

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.