Sunrun (NASDAQ:RUN) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of Sunrun (NASDAQ:RUN) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. The firm currently has $26.00 target price on the energy company’s stock, up from their previous target price of $11.00.

Several other analysts also recently commented on the stock. BNP Paribas Exane raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Monday, July 7th. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. BMO Capital Markets set a $19.00 target price on Sunrun and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Zacks Research raised Sunrun from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Finally, KeyCorp raised Sunrun from an “underweight” rating to a “sector weight” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $18.60.

Sunrun Stock Down 0.3%

RUN stock opened at $20.44 on Tuesday. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.44. The business’s 50 day simple moving average is $17.14 and its 200 day simple moving average is $11.62. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $4.72 billion, a PE ratio of -1.76 and a beta of 2.41.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm had revenue of $569.34 million during the quarter, compared to analysts’ expectations of $555.42 million. During the same period in the previous year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 21,037 shares of Sunrun stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $20.25, for a total value of $425,999.25. Following the completion of the transaction, the insider directly owned 366,264 shares of the company’s stock, valued at $7,416,846. The trade was a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary Powell sold 11,699 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.34, for a total value of $226,258.66. Following the sale, the chief executive officer directly owned 876,590 shares in the company, valued at approximately $16,953,250.60. This trade represents a 1.32% 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 worth $4,931,665. 3.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of RUN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Sunrun in the 3rd quarter valued at approximately $361,000. Range Financial Group LLC bought a new position in Sunrun in the third quarter valued at approximately $1,403,000. Chesapeake Asset Management LLC bought a new position in Sunrun in the third quarter valued at approximately $166,000. CWM LLC raised its position in Sunrun by 53.0% during the third quarter. CWM LLC now owns 8,119 shares of the energy company’s stock valued at $140,000 after purchasing an additional 2,812 shares in the last quarter. Finally, Norden Group LLC lifted its stake in Sunrun by 16.7% during the third quarter. Norden Group LLC now owns 240,596 shares of the energy company’s stock worth $4,160,000 after purchasing an additional 34,361 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

About Sunrun

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.