Oppenheimer Raises Sunrun (NASDAQ:RUN) Price Target to $22.00

Sunrun (NASDAQ:RUN) had its target price hoisted by Oppenheimer from $19.00 to $22.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Other equities analysts have also issued reports about the company. Mizuho reduced their price objective on Sunrun from $28.00 to $23.00 and set a buy rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group decreased their price objective on shares of Sunrun from $32.00 to $26.00 and set a buy rating for the company in a research note on Thursday, May 9th. Piper Sandler increased their price objective on shares of Sunrun from $15.00 to $20.00 and gave the stock an overweight rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Sunrun from $14.00 to $19.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, Barclays increased their price target on Sunrun from $16.00 to $19.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $22.69.

Sunrun Stock Performance

NASDAQ:RUN opened at $17.89 on Wednesday. The company has a market cap of $3.97 billion, a P/E ratio of -2.68 and a beta of 2.61. The firm’s 50 day moving average is $14.90 and its two-hundred day moving average is $13.34. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $20.68. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The business had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. Analysts expect that Sunrun will post -1.26 EPS for the current year.

Insider Transactions at Sunrun

In related news, CRO Paul S. Dickson sold 2,486 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $35,872.98. Following the sale, the executive now directly owns 447,184 shares of the company’s stock, valued at $6,452,865.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $14.06, for a total value of $703,000.00. Following the completion of the transaction, the director now owns 1,395,297 shares in the company, valued at approximately $19,617,875.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 2,486 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $35,872.98. Following the sale, the executive now directly owns 447,184 shares in the company, valued at $6,452,865.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,873 shares of company stock valued at $4,171,119. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of institutional investors and hedge funds have recently modified their holdings of RUN. Vanguard Group Inc. lifted its holdings in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the last quarter. Norges Bank bought a new stake in shares of Sunrun in the 4th quarter worth approximately $23,186,000. Greenvale Capital LLP grew its stake in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares during the last quarter. Masters Capital Management LLC acquired a new stake in Sunrun in the fourth quarter worth $19,630,000. Finally, Robeco Schweiz AG grew its position in shares of Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after acquiring an additional 876,000 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.