Sunrun Inc. (NASDAQ:RUN) Stock Has Average Price Target of $16.70 According to Brokerages

Sunrun Inc. (NASDAQ:RUN) has received a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.70.

Several research firms have commented on RUN. UBS Group reduced their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Mizuho set a $18.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, TD Cowen lowered their price objective on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 6th.

Insiders Place Their Bets

In related news, CAO Maria Barak sold 3,278 shares of Sunrun stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $12.17, for a total value of $39,893.26. Following the sale, the chief accounting officer directly owned 90,033 shares in the company, valued at $1,095,701.61. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the transaction, the chief executive officer directly owned 1,111,535 shares in the company, valued at $14,661,146.65. This represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 171,015 shares of company stock worth $2,111,653. Corporate insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. U S Wealth Group LLC. lifted its stake in shares of Sunrun by 23.1% during the 2nd quarter. U S Wealth Group LLC. now owns 95,946 shares of the energy company’s stock worth $1,284,000 after purchasing an additional 18,006 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Sunrun in the second quarter valued at $594,000. Engineers Gate Manager LP acquired a new position in Sunrun in the second quarter valued at $328,000. Nykredit A S acquired a new position in Sunrun in the second quarter valued at $78,000. Finally, Amundi lifted its position in Sunrun by 3.9% during the second quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after buying an additional 127,878 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Trading Down 5.5%

Shares of Sunrun stock opened at $7.66 on Friday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The company has a market capitalization of $1.84 billion, a P/E ratio of 5.18 and a beta of 2.37. Sunrun has a 1 year low of $7.66 and a 1 year high of $22.44. The company’s fifty day moving average is $9.29 and its two-hundred day moving average is $11.84.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the prior year, the company earned $1.07 earnings per share. The business’s revenue was up 52.8% compared to the same quarter last year. Analysts forecast that Sunrun will post 1.19 earnings per share for the current year.

About Sunrun

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.