Sunrun (NASDAQ:RUN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Sunrun (NASDAQ:RUN) had its price target increased by investment analysts at Royal Bank Of Canada from $16.00 to $22.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 7.63% from the company’s current price.

RUN has been the topic of several other research reports. Mizuho upped their price objective on Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Jefferies Financial Group raised Sunrun from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $21.00 in a research report on Wednesday, October 1st. BNP Paribas upgraded Sunrun from a “hold” rating to a “strong-buy” rating in a report on Monday, July 7th. TD Cowen upped their target price on Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

Sunrun Stock Performance

Shares of Sunrun stock opened at $20.44 on Monday. The stock’s fifty day moving average is $17.14 and its two-hundred day moving average is $11.62. The company has a market capitalization of $4.72 billion, a PE ratio of -1.76 and a beta of 2.41. 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 Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating the consensus estimate of ($0.18) by $1.25. The company had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.Sunrun’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. As a group, analysts expect that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Danny Abajian sold 9,055 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.35, for a total transaction of $175,214.25. Following the completion of the sale, the chief financial officer directly owned 424,606 shares in the company, valued at $8,216,126.10. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 12,493 shares of the company’s stock in a transaction on 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 owned 647,600 shares of the company’s stock, valued at $12,964,952. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 266,956 shares of company stock valued at $4,931,665. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

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