BMO Capital Markets Increases Sunrun (NASDAQ:RUN) Price Target to $40.00

Sunrun (NASDAQ:RUNGet Rating) had its target price increased by equities research analysts at BMO Capital Markets from $38.00 to $40.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 20.34% from the company’s previous close.

A number of other equities research analysts also recently weighed in on RUN. Evercore ISI raised their price target on Sunrun from $64.00 to $67.00 in a research note on Thursday. Piper Sandler raised their price target on Sunrun from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday. Roth Capital cut their price objective on Sunrun from $42.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Morgan Stanley cut their price objective on Sunrun from $89.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, June 13th. Finally, The Goldman Sachs Group raised their price objective on Sunrun from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

Sunrun Trading Up 4.5 %

Shares of NASDAQ RUN opened at $33.24 on Thursday. Sunrun has a one year low of $16.80 and a one year high of $60.60. The firm has a market capitalization of $6.98 billion, a PE ratio of -59.36 and a beta of 2.29. The company has a current ratio of 1.60, a quick ratio of 1.08 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $25.70 and a two-hundred day moving average price of $25.54.

Sunrun (NASDAQ:RUNGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.35). Sunrun had a negative return on equity of 1.40% and a negative net margin of 5.86%. The firm had revenue of $495.78 million for the quarter, compared to analysts’ expectations of $401.60 million. During the same period last year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 48.1% on a year-over-year basis. As a group, analysts predict that Sunrun will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 1,458 shares of Sunrun stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $22.62, for a total transaction of $32,979.96. Following the sale, the insider now owns 159,095 shares of the company’s stock, valued at approximately $3,598,728.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward Harris Fenster sold 25,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the sale, the insider now owns 1,585,134 shares of the company’s stock, valued at approximately $39,628,350. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanna Steele sold 1,458 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $22.62, for a total value of $32,979.96. Following the completion of the sale, the insider now directly owns 159,095 shares in the company, valued at approximately $3,598,728.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,973 shares of company stock valued at $6,546,339. 4.29% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in Sunrun by 12.7% in the 4th quarter. Russell Investments Group Ltd. now owns 55,925 shares of the energy company’s stock valued at $1,915,000 after purchasing an additional 6,307 shares during the last quarter. Yousif Capital Management LLC bought a new position in Sunrun in the 4th quarter valued at $3,728,000. Robeco Institutional Asset Management B.V. raised its position in Sunrun by 1,279.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 78,916 shares of the energy company’s stock valued at $2,707,000 after purchasing an additional 73,195 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sunrun by 49.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,917 shares of the energy company’s stock valued at $4,147,000 after purchasing an additional 40,051 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Sunrun by 2.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 67,864 shares of the energy company’s stock valued at $2,328,000 after purchasing an additional 1,938 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

Sunrun Company Profile

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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; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems.

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