Sunrun (NASDAQ:RUN) Given New $87.00 Price Target at Morgan Stanley


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Sunrun (NASDAQ:RUN) had its price target upped by investment analysts at Morgan Stanley from $58.00 to $87.00 in a research report issued to clients and investors on Tuesday, Anlyst Ratings reports. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s target price would indicate a potential downside of 4.01% from the company’s current price.

A number of other equities research analysts have also weighed in on RUN. Barclays boosted their target price on shares of Sunrun from $57.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, November 16th. Truist initiated coverage on Sunrun in a research note on Tuesday. They issued a “buy” rating and a $116.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Sunrun from $61.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. They noted that the move was a valuation call. Capital One Financial initiated coverage on Sunrun in a research note on Thursday, December 17th. They issued an “equal weight” rating and a $63.00 price objective for the company. Finally, JMP Securities upped their price objective on Sunrun from $78.00 to $85.00 in a research note on Monday, January 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $74.71.

Shares of NASDAQ RUN opened at $90.63 on Tuesday. Sunrun has a twelve month low of $7.84 and a twelve month high of $100.93. The firm has a market cap of $17.90 billion, a P/E ratio of -9,053.95 and a beta of 1.75. The company has a 50 day moving average of $68.94 and a 200 day moving average of $55.70. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 2.14.

Sunrun (NASDAQ:RUN) last announced its earnings results on Thursday, November 5th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.26. The company had revenue of $209.70 million for the quarter, compared to analysts’ expectations of $209.38 million. Sunrun’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. As a group, equities analysts expect that Sunrun will post -0.17 earnings per share for the current fiscal year.

In related news, CAO Michelle Philpot sold 10,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $60.36, for a total value of $603,600.00. Following the completion of the transaction, the chief accounting officer now owns 55,686 shares of the company’s stock, valued at approximately $3,361,206.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Bywater sold 73,445 shares of the stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $56.20, for a total transaction of $4,127,609.00. Following the transaction, the chief executive officer now directly owns 379,165 shares of the company’s stock, valued at approximately $21,309,073. The disclosure for this sale can be found here. Insiders sold a total of 2,941,005 shares of company stock valued at $187,322,857 in the last ninety days. 8.55% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new position in shares of Sunrun during the 3rd quarter valued at about $25,000. Dimension Capital Management LLC bought a new position in shares of Sunrun during the 3rd quarter valued at about $32,000. Harvest Fund Management Co. Ltd bought a new position in shares of Sunrun during the 3rd quarter valued at about $64,000. Sowell Financial Services LLC boosted its holdings in shares of Sunrun by 43.0% during the 4th quarter. Sowell Financial Services LLC now owns 991 shares of the energy company’s stock valued at $69,000 after purchasing an additional 298 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new position in shares of Sunrun during the 3rd quarter valued at about $77,000. 90.19% of the stock is owned by institutional investors and hedge funds.

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 energy systems and products, such as panels and racking, as well as solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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