Goldman Sachs Group Inc. upgraded shares of Sunrun Inc. (NASDAQ:RUN) from a neutral rating to a buy rating in a report published on Thursday morning. The brokerage currently has $12.00 price objective on the stock, up from their prior price objective of $7.00.
Other analysts have also issued reports about the stock. Credit Suisse Group AG restated a buy rating on shares of Sunrun in a report on Wednesday, June 8th. Deutsche Bank AG restated a buy rating and issued a $15.00 price objective on shares of Sunrun in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Sunrun from a hold rating to a buy rating and set a $5.75 price objective on the stock in a report on Tuesday, August 2nd. Barclays PLC restated an equal weight rating and issued a $7.00 price objective on shares of Sunrun in a report on Tuesday, June 21st. Finally, Oppenheimer Holdings Inc. restated an outperform rating and issued a $9.00 price objective (up from $8.00) on shares of Sunrun in a report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Sunrun presently has an average rating of Buy and an average target price of $11.77.
Sunrun (NASDAQ:RUN) traded up 6.54% during mid-day trading on Thursday, hitting $6.52. 2,671,469 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $5.96 and its 200-day moving average price is $6.13. The stock has a market cap of $672.03 million, a PE ratio of 197.58 and a beta of -1.20. Sunrun has a one year low of $4.86 and a one year high of $14.95.
Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.71. The firm had revenue of $122.50 million for the quarter, compared to analyst estimates of $111.15 million. Sunrun had a net margin of 6.94% and a return on equity of 3.30%. Sunrun’s revenue was up 68.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. On average, analysts forecast that Sunrun will post ($0.12) EPS for the current fiscal year.
In other news, major shareholder William B. Elmore sold 27,384 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $6.06, for a total transaction of $165,947.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $5.82, for a total value of $246,220.92. The disclosure for this sale can be found here. Insiders own 42.19% of the company’s stock.
Several institutional investors have recently made changes to their positions in RUN. Royal Bank of Canada increased its position in shares of Sunrun by 426.8% in the second quarter. Royal Bank of Canada now owns 33,522 shares of the company’s stock worth $198,000 after buying an additional 27,159 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Sunrun by 129.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,472 shares of the company’s stock valued at $715,000 after buying an additional 68,056 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Sunrun during the second quarter valued at $300,000. Point72 Asset Management L.P. boosted its stake in Sunrun by 6.6% in the second quarter. Point72 Asset Management L.P. now owns 1,780,000 shares of the company’s stock valued at $10,555,000 after buying an additional 110,600 shares during the last quarter. Finally, Firsthand Capital Management Inc. boosted its stake in Sunrun by 0.7% in the second quarter. Firsthand Capital Management Inc. now owns 679,820 shares of the company’s stock valued at $4,031,000 after buying an additional 5,000 shares during the last quarter. 67.06% of the stock is owned by institutional investors and hedge funds.
Sunrun Inc (Sunrun) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.
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