Sunrun Inc. (RUN) Stock Rating Upgraded by Zacks Investment Research
Sunrun Inc. (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $6.25 price target on the energy company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.22% from the company’s previous close.
According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “
A number of other analysts have also issued reports on RUN. Goldman Sachs Group, Inc. (The) set a $10.00 target price on shares of Sunrun and gave the company a “buy” rating in a research note on Tuesday, June 20th. ValuEngine raised shares of Sunrun from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Barclays PLC boosted their target price on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Bank of America Corporation reissued a “neutral” rating and set a $8.00 target price (up from $7.75) on shares of Sunrun in a research note on Thursday, August 10th. Finally, BidaskClub lowered shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.15.
Sunrun (NASDAQ:RUN) opened at 5.52 on Friday. The company has a market capitalization of $586.01 million, a price-to-earnings ratio of 7.09 and a beta of -0.71. Sunrun has a one year low of $4.15 and a one year high of $7.20. The firm has a 50-day moving average of $5.90 and a 200 day moving average of $5.90.
Sunrun (NASDAQ:RUN) last issued its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities research analysts predict that Sunrun will post $0.97 earnings per share for the current fiscal year.
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In related news, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the sale, the chairman now directly owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $7.16, for a total transaction of $240,404.16. The disclosure for this sale can be found here. 24.13% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd lifted its stake in Sunrun by 30.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock worth $159,000 after acquiring an additional 5,134 shares during the period. California State Teachers Retirement System raised its holdings in Sunrun by 21.0% in the second quarter. California State Teachers Retirement System now owns 150,626 shares of the energy company’s stock worth $1,072,000 after purchasing an additional 26,100 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sunrun by 25.8% in the second quarter. The Manufacturers Life Insurance Company now owns 67,490 shares of the energy company’s stock worth $480,000 after purchasing an additional 13,829 shares in the last quarter. State Street Corp raised its holdings in Sunrun by 22.7% in the second quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock worth $11,596,000 after purchasing an additional 300,923 shares in the last quarter. Finally, Shelton Capital Management raised its holdings in Sunrun by 54.9% in the second quarter. Shelton Capital Management now owns 110,000 shares of the energy company’s stock worth $783,000 after purchasing an additional 39,000 shares in the last quarter. 73.95% of the stock is owned by institutional investors.
Sunrun Company Profile
Sunrun Inc 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. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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