Sunrun (NASDAQ:RUN) Price Target Raised to $19.00 at JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $14.00 to $19.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 18.82% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group reduced their price objective on Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Mizuho lowered 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. Morgan Stanley lifted their target price on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Susquehanna upped their price target on shares of Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.68.

Sunrun Stock Performance

Shares of Sunrun stock traded up $0.33 during trading hours on Tuesday, hitting $15.99. 4,776,792 shares of the company’s stock traded hands, compared to its average volume of 13,389,098. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.40 and a beta of 2.61. Sunrun has a 12-month low of $8.43 and a 12-month high of $23.85. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The company has a fifty day simple moving average of $13.10 and a 200-day simple moving average of $13.15.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $458.20 million during the quarter, compared to the consensus estimate of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The firm’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.12) earnings per share. Equities research analysts anticipate that Sunrun will post -1.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s 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 sale, the director now owns 1,395,297 shares in the company, valued at approximately $19,617,875.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $14.06, for a total transaction of $703,000.00. Following the transaction, the director now directly owns 1,395,297 shares of the company’s stock, valued at $19,617,875.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 1,741 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the sale, the chief executive officer now owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,712 shares of company stock worth $2,859,761. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares in the last quarter. BNP Paribas purchased a new position in Sunrun during the first quarter valued at $37,000. CWM LLC boosted its holdings in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares in the last quarter. USCF Advisers LLC grew its stake in shares of Sunrun by 130.0% in the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock worth $45,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Sunrun during the first quarter valued at $53,000. 91.69% of the stock is owned by hedge funds and other 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.