Sunrun (RUN) Trading Up 3.7% Following Analyst Upgrade

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Sunrun Inc (NASDAQ:RUN) shares were up 3.7% during trading on Wednesday after Credit Suisse Group raised their price target on the stock from $15.00 to $16.00. Credit Suisse Group currently has an outperform rating on the stock. Sunrun traded as high as $13.97 and last traded at $14.25. Approximately 103,725 shares changed hands during trading, a decline of 95% from the average daily volume of 2,284,935 shares. The stock had previously closed at $13.74.

Several other research firms have also weighed in on RUN. Zacks Investment Research lowered Sunrun from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Goldman Sachs Group increased their price target on Sunrun from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, April 6th. Bank of America lowered Sunrun from a “buy” rating to an “underperform” rating in a report on Friday, April 6th. BidaskClub upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Roth Capital initiated coverage on Sunrun in a report on Thursday, March 1st. They set a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.08.

In other Sunrun news, CEO Lynn Michelle Jurich sold 36,522 shares of the stock in a transaction on Monday, April 16th. The stock was sold at an average price of $8.50, for a total value of $310,437.00. Following the sale, the chief executive officer now owns 2,912,115 shares in the company, valued at $24,752,977.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tiger Global Management Llc bought 776,138 shares of Sunrun stock in a transaction on Wednesday, May 30th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $8,622,893.18. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,258,596 shares of company stock worth $38,344,367 in the last 90 days. 19.45% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Standard Life Aberdeen plc purchased a new stake in Sunrun in the fourth quarter worth $121,000. Teacher Retirement System of Texas purchased a new stake in Sunrun in the fourth quarter worth $140,000. Aperio Group LLC purchased a new stake in Sunrun in the fourth quarter worth $153,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sunrun by 36.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,366 shares of the energy company’s stock worth $209,000 after purchasing an additional 6,200 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Sunrun by 47.6% in the first quarter. Victory Capital Management Inc. now owns 25,648 shares of the energy company’s stock worth $229,000 after purchasing an additional 8,266 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.53 and a quick ratio of 1.24. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.76 and a beta of -0.86.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 9th. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Sunrun had a return on equity of 9.34% and a net margin of 24.53%. The business had revenue of $144.36 million for the quarter, compared to analyst estimates of $134.98 million. During the same quarter last year, the firm posted $0.12 earnings per share. The business’s revenue was up 37.4% compared to the same quarter last year. analysts expect that Sunrun Inc will post 1.21 earnings per share for the current fiscal year.

Sunrun Company Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.

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