Equities research analysts predict that Sunrun Inc (NASDAQ:RUN) will report $177.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sunrun’s earnings. The highest sales estimate is $190.40 million and the lowest is $164.50 million. Sunrun posted sales of $146.44 million during the same quarter last year, which suggests a positive year-over-year growth rate of 21.2%. The firm is expected to announce its next earnings report after the market closes on Thursday, February 28th.
On average, analysts expect that Sunrun will report full year sales of $683.37 million for the current fiscal year, with estimates ranging from $655.50 million to $710.20 million. For the next year, analysts forecast that the business will report sales of $727.39 million, with estimates ranging from $702.08 million to $756.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sunrun.
A number of analysts have recently issued reports on RUN shares. BidaskClub raised Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. ValuEngine raised Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 30th. Finally, Zacks Investment Research raised Sunrun from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 15th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.83.
In other news, major shareholder Tiger Global Management Llc purchased 1,300,000 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was acquired at an average cost of $14.51 per share, with a total value of $18,863,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven Vassallo sold 50,000 shares of Sunrun stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $14.00, for a total value of $700,000.00. Following the sale, the director now directly owns 30,703 shares of the company’s stock, valued at $429,842. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,259,424 shares of company stock valued at $45,864,201 and sold 741,193 shares valued at $10,738,892. Company insiders own 19.45% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RUN. Neuberger Berman Group LLC lifted its holdings in Sunrun by 881.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,517,568 shares of the energy company’s stock worth $31,318,000 after purchasing an additional 2,260,933 shares during the last quarter. Morgan Stanley lifted its holdings in Sunrun by 104.8% during the 3rd quarter. Morgan Stanley now owns 1,371,638 shares of the energy company’s stock worth $17,064,000 after purchasing an additional 701,745 shares during the last quarter. Vanguard Group Inc lifted its holdings in Sunrun by 8.8% during the 3rd quarter. Vanguard Group Inc now owns 7,664,932 shares of the energy company’s stock worth $95,351,000 after purchasing an additional 618,002 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Sunrun by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,664,932 shares of the energy company’s stock worth $95,351,000 after purchasing an additional 618,002 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Sunrun by 392.7% during the 4th quarter. First Trust Advisors LP now owns 508,450 shares of the energy company’s stock worth $5,537,000 after purchasing an additional 405,255 shares during the last quarter. 77.79% of the stock is owned by institutional investors and hedge funds.
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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