Sunrun (RUN) Upgraded by Zacks Investment Research to “Buy”

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $6.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.57% from the stock’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. “

Other equities analysts also recently issued reports about the stock. Oppenheimer reiterated a “buy” rating and issued a $10.00 price objective on shares of Sunrun in a report on Thursday, November 9th. Bank of America started coverage on shares of Sunrun in a research report on Monday, November 6th. They issued a “buy” rating for the company. Finally, BidaskClub cut shares of Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $7.95.

Sunrun (NASDAQ:RUN) traded up $0.13 during trading hours on Thursday, hitting $6.05. 933,700 shares of the company’s stock traded hands, compared to its average volume of 803,000. Sunrun has a 12-month low of $4.21 and a 12-month high of $7.78. The firm has a market capitalization of $646.06 and a P/E ratio of 6.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.72.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.11. Sunrun had a net margin of 18.79% and a return on equity of 9.25%. The firm had revenue of $141.29 million for the quarter, compared to the consensus estimate of $146.56 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 26.1% on a year-over-year basis. equities research analysts expect that Sunrun will post 0.64 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in RUN. Legal & General Group Plc lifted its position in Sunrun by 16.3% during the second quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after purchasing an additional 2,768 shares during the period. Oppenheimer & Co. Inc. lifted its position in Sunrun by 15.0% during the second quarter. Oppenheimer & Co. Inc. now owns 34,093 shares of the energy company’s stock worth $243,000 after purchasing an additional 4,443 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Sunrun by 30.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock worth $159,000 after purchasing an additional 5,134 shares during the period. Voya Investment Management LLC lifted its position in Sunrun by 28.9% during the second quarter. Voya Investment Management LLC now owns 37,399 shares of the energy company’s stock worth $266,000 after purchasing an additional 8,391 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Sunrun by 17.0% during the second quarter. New York State Common Retirement Fund now owns 76,300 shares of the energy company’s stock worth $543,000 after purchasing an additional 11,099 shares during the period. 77.65% of the stock is owned by institutional investors.

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About Sunrun

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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