Sunrun (NASDAQ:RUN) Price Target Raised to $23.00

Sunrun (NASDAQ:RUN) had its price objective lifted by TD Cowen from $22.00 to $23.00 in a research note issued to investors on Friday morning, Marketbeat reports. They currently have a buy rating on the energy company’s stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Sunrun from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. UBS Group boosted their price objective on Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Morgan Stanley set a $20.00 price target on Sunrun in a report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Finally, Mizuho increased their price target on Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Sunrun Stock Up 9.3%

Shares of RUN traded up $1.60 during midday trading on Friday, hitting $18.73. The company had a trading volume of 6,823,171 shares, compared to its average volume of 15,289,292. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -1.61 and a beta of 2.35. The company’s 50 day moving average price is $18.43 and its 200 day moving average price is $12.92. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm 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%.Sunrun’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. On average, equities research analysts predict that Sunrun will post -0.43 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Paul S. Dickson sold 12,493 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $20.02, for a total value of $250,109.86. Following the sale, the executive directly owned 647,600 shares of the company’s stock, valued at approximately $12,964,952. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeanna Steele sold 4,475 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $21.71, for a total value of $97,152.25. Following the transaction, the insider owned 361,789 shares in the company, valued at $7,854,439.19. This represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 316,956 shares of company stock valued at $5,952,165 in the last three months. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently made changes to their positions in the company. PGGM Investments boosted its stake in shares of Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after purchasing an additional 5,325,332 shares in the last quarter. Public Sector Pension Investment Board increased its position in Sunrun by 27.1% during the 1st quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock worth $4,169,000 after purchasing an additional 151,474 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Sunrun by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company’s stock valued at $6,545,000 after purchasing an additional 29,227 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in Sunrun by 25.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock valued at $14,650,000 after buying an additional 500,000 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Sunrun by 11.3% during the first quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock worth $1,639,000 after buying an additional 28,395 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.