Zacks Investment Research Upgrades Sunrun (RUN) to “Strong-Buy”

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday. The brokerage presently has a $6.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.64% 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. “

Several other equities research analysts also recently commented on RUN. BidaskClub downgraded Sunrun from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Oppenheimer reaffirmed a “buy” rating and set a $10.00 target price on shares of Sunrun in a report on Thursday, November 9th. Finally, Bank of America assumed coverage on Sunrun in a report on Monday, November 6th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $7.95.

Shares of Sunrun (RUN) opened at $5.94 on Friday. Sunrun has a fifty-two week low of $4.21 and a fifty-two week high of $7.78. The company has a market capitalization of $635.19, a price-to-earnings ratio of 6.83, a PEG ratio of 0.15 and a beta of -0.70. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.14 by $0.11. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The business had revenue of $141.29 million during the quarter, compared to the consensus estimate of $146.56 million. During the same period in the prior year, the business posted $0.16 earnings per share. Sunrun’s revenue was up 26.1% compared to the same quarter last year. sell-side analysts anticipate that Sunrun will post 0.95 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in RUN. Suntrust Banks Inc. purchased a new stake in Sunrun in the 2nd quarter worth about $112,000. Citigroup Inc. lifted its stake in Sunrun by 760.3% in the 2nd quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock worth $133,000 after acquiring an additional 16,507 shares in the last quarter. Legal & General Group Plc lifted its stake in Sunrun by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after acquiring an additional 2,768 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Sunrun by 30.0% in the 2nd 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 in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Sunrun in the 3rd quarter worth about $123,000. 77.65% of the stock is owned by institutional investors and hedge funds.

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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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