Sunrun Inc. (RUN) Upgraded to “Buy” by Goldman Sachs Group Inc.
Sunrun Inc. (NASDAQ:RUN) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Thursday.
Several other research analysts have also recently weighed in on RUN. Credit Suisse Group AG reissued a “buy” rating on shares of Sunrun in a report on Wednesday, June 8th. Oppenheimer Holdings Inc. initiated coverage on shares of Sunrun in a report on Monday, June 20th. They set an “outperform” rating and a $8.00 price objective for the company. Barclays PLC reissued an “equal weight” rating and set a $7.00 price objective on shares of Sunrun in a report on Tuesday, June 21st. Zacks Investment Research raised shares of Sunrun from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday, July 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $8.00 price objective (down from $19.00) on shares of Sunrun in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.32.
Shares of Sunrun (NASDAQ:RUN) traded down 2.24% on Thursday, reaching $6.12. 682,479 shares of the company’s stock traded hands. The firm’s 50-day moving average is $5.96 and its 200-day moving average is $6.13. The stock has a market cap of $630.80 million, a price-to-earnings ratio of 185.45 and a beta of -1.20. Sunrun has a 52-week low of $4.86 and a 52-week high of $14.95.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.71. Sunrun had a net margin of 6.94% and a return on equity of 3.30%. The firm earned $122.50 million during the quarter, compared to analysts’ expectations of $111.15 million. During the same period in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 68.6% on a year-over-year basis. Analysts anticipate that Sunrun will post ($0.12) EPS for the current fiscal year.
In related news, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $5.82, for a total transaction of $246,220.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder William B. Elmore sold 27,384 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $6.06, for a total transaction of $165,947.04. The disclosure for this sale can be found here. 42.19% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Sunrun by 245.1% in the second quarter. California State Teachers Retirement System now owns 132,626 shares of the company’s stock worth $786,000 after buying an additional 94,196 shares in the last quarter. Robecosam AG increased its stake in Sunrun by 113.5% in the first quarter. Robecosam AG now owns 768,000 shares of the company’s stock worth $4,969,000 after buying an additional 408,243 shares during the last quarter. Quentec Asset Management LLC increased its stake in Sunrun by 114.0% in the first quarter. Quentec Asset Management LLC now owns 2,506,860 shares of the company’s stock worth $16,244,000 after buying an additional 1,335,487 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Sunrun by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 173,809 shares of the company’s stock worth $1,126,000 after buying an additional 513 shares during the last quarter. Finally, Chesapeake Asset Management LLC increased its stake in Sunrun by 6.1% in the second quarter. Chesapeake Asset Management LLC now owns 34,772 shares of the company’s stock worth $206,000 after buying an additional 2,008 shares during the last quarter. Hedge funds and other institutional investors own 67.06% of the company’s stock.
Sunrun Inc (Sunrun) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.
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