Sunrun Inc. (NASDAQ:RUN) Stock Has Consensus Price Target of $16.70 According to Brokerages

Shares of Sunrun Inc. (NASDAQ:RUN) have been assigned a consensus rating of “Hold” from the twenty-two brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.70.

Several brokerages have recently weighed in on RUN. Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Citigroup cut their price target on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Susquehanna reduced their price target on Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a report on Friday, August 7th. UBS Group lowered their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group dropped their price objective on Sunrun from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, September 21st.

Sunrun Stock Up 0.9%

Shares of NASDAQ:RUN opened at $7.71 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. Sunrun has a 52-week low of $7.47 and a 52-week high of $22.44. The company has a 50 day moving average of $9.05 and a two-hundred day moving average of $11.71. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 5.21 and a beta of 2.44.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. As a group, analysts forecast that Sunrun will post 1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 16,495 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the completion of the sale, the chief financial officer owned 420,318 shares of the company’s stock, valued at approximately $5,543,994.42. The trade was a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,278 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.17, for a total transaction of $39,893.26. Following the transaction, the chief accounting officer directly owned 90,033 shares in the company, valued at $1,095,701.61. The trade was a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 121,015 shares of company stock valued at $1,431,153. 3.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after acquiring an additional 165,196 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares in the last quarter. Contour Asset Management LLC bought a new position in Sunrun during the fourth quarter worth $98,010,000. Maple Rock Capital Partners Inc. lifted its stake in Sunrun by 23.1% during the second quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after purchasing an additional 692,448 shares during the last quarter. Finally, Amundi lifted its stake in Sunrun by 3.9% during the second quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after purchasing an additional 127,878 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.