Sunrun Inc. (NASDAQ:RUN) Given Consensus Rating of “Buy” by Brokerages

Shares of Sunrun Inc. (NASDAQ:RUN) have received an average recommendation of “Buy” from the twenty-five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $79.95.

Several equities research analysts have recently commented on RUN shares. Needham & Company LLC started coverage on Sunrun in a report on Thursday, September 9th. They issued a “buy” rating and a $75.00 price objective for the company. Wolfe Research started coverage on Sunrun in a report on Tuesday, August 31st. They issued an “outperform” rating and a $62.00 price objective for the company. Truist Securities cut their price objective on Sunrun from $81.00 to $74.00 and set a “buy” rating for the company in a report on Monday, August 9th. Stephens started coverage on Sunrun in a report on Thursday, June 24th. They issued an “overweight” rating and a $82.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on Sunrun from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, July 21st.

In related news, insider Edward Harris Fenster sold 81,142 shares of the firm’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $46.94, for a total value of $3,808,805.48. Following the transaction, the insider now owns 1,669,371 shares in the company, valued at $78,360,274.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie A. Dach sold 13,013 shares of the firm’s stock in a transaction on Wednesday, September 22nd. The stock was sold at an average price of $43.08, for a total value of $560,600.04. The disclosure for this sale can be found here. Insiders have sold 174,524 shares of company stock valued at $8,004,315 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. West Branch Capital LLC bought a new position in Sunrun in the second quarter valued at about $28,000. Resources Management Corp CT ADV bought a new position in Sunrun in the second quarter valued at about $32,000. Concord Wealth Partners grew its position in Sunrun by 1,354.8% in the first quarter. Concord Wealth Partners now owns 611 shares of the energy company’s stock valued at $37,000 after acquiring an additional 569 shares during the last quarter. TFC Financial Management bought a new position in Sunrun in the second quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. grew its position in Sunrun by 300.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 800 shares of the energy company’s stock valued at $45,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Shares of RUN opened at $44.01 on Monday. The stock has a market capitalization of $9.06 billion, a P/E ratio of -47.84 and a beta of 2.09. Sunrun has a twelve month low of $37.42 and a twelve month high of $100.93. The company has a 50 day moving average of $45.48 and a 200-day moving average of $48.35. The company has a quick ratio of 0.94, a current ratio of 1.25 and a debt-to-equity ratio of 0.81.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, August 5th. The energy company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The company had revenue of $401.17 million during the quarter, compared to analyst estimates of $374.36 million. Sunrun had a negative net margin of 15.55% and a negative return on equity of 0.44%. On average, sell-side analysts anticipate that Sunrun will post -0.17 earnings per share for the current fiscal year.

Sunrun Company Profile

SunRun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and install solar energy systems for homeowners through its direct-to-consumer channel. The firm also offers plans such as monthly lease, full amount lease, purchase system, and monthly loan.

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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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