Sunrun Inc. (RUN) Receives $12.58 Consensus Target Price from Analysts
Shares of Sunrun Inc. (NASDAQ:RUN) have been given a consensus rating of “Buy” by the twelve analysts that are currently covering the firm. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.82.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Sunrun from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research note on Saturday. Bank of America Corp. set a $6.00 price target on shares of Sunrun and gave the stock a “hold” rating in a research note on Friday. Barclays PLC reaffirmed an “equal weight” rating on shares of Sunrun in a research note on Thursday. JMP Securities downgraded shares of Sunrun from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Credit Suisse Group AG began coverage on shares of Sunrun in a research report on Thursday, November 3rd. They issued an “outperform” rating and a $18.00 target price for the company.
Shares of Sunrun (NASDAQ:RUN) opened at 5.11 on Thursday. The firm has a market cap of $526.70 million, a P/E ratio of 154.85 and a beta of -0.89. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $5.93. Sunrun has a 52 week low of $4.15 and a 52 week high of $14.95.
Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.28. Sunrun had a net margin of 11.00% and a return on equity of 6.73%. The firm had revenue of $112 million for the quarter. During the same period last year, the firm earned ($0.04) EPS. The business’s quarterly revenue was up 35.6% on a year-over-year basis. On average, equities research analysts predict that Sunrun will post $0.05 earnings per share for the current fiscal year.
In other Sunrun news, major shareholder William B. Elmore sold 27,384 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $6.06, for a total transaction of $165,947.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $5.82, for a total transaction of $246,220.92. The disclosure for this sale can be found here. 42.19% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its position in Sunrun by 16.7% in the third quarter. Northern Trust Corp now owns 649,165 shares of the company’s stock worth $4,090,000 after buying an additional 92,958 shares during the last quarter. California State Teachers Retirement System raised its position in Sunrun by 0.8% in the third quarter. California State Teachers Retirement System now owns 133,726 shares of the company’s stock worth $842,000 after buying an additional 1,100 shares during the last quarter. SG Americas Securities LLC purchased a new position in Sunrun during the third quarter worth about $306,000. BlackRock Institutional Trust Company N.A. raised its position in Sunrun by 39.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 891,417 shares of the company’s stock worth $5,616,000 after buying an additional 250,347 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Sunrun by 20.7% in the third quarter. Rhumbline Advisers now owns 63,757 shares of the company’s stock worth $402,000 after buying an additional 10,932 shares during the last quarter. 67.01% of the stock is owned by hedge funds and other institutional investors.
Sunrun Company Profile
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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