Sunrun Inc. (RUN) PT Set at $6.00 by Bank of America Corp.
Sunrun Inc. (NASDAQ:RUN) received a $6.00 price target from research analysts at Bank of America Corp. in a research report issued to clients and investors on Friday. The firm presently has a a “hold” rating on the stock. Bank of America Corp.’s price objective would suggest a potential upside of 20.48% from the stock’s previous close.
Several other brokerages also recently weighed in on RUN. Goldman Sachs Group Inc. restated a “buy” rating and set a $10.00 target price on shares of Sunrun in a research note on Wednesday, October 26th. Zacks Investment Research downgraded Sunrun from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. JMP Securities assumed coverage on Sunrun in a research note on Thursday, September 8th. They set an “outperform” rating and a $8.50 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $8.00 target price (down from $19.00) on shares of Sunrun in a research note on Wednesday, August 3rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $15.00 target price on shares of Sunrun in a research note on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $11.15.
Sunrun (NASDAQ:RUN) opened at 4.98 on Friday. The firm has a 50-day moving average price of $5.83 and a 200-day moving average price of $5.88. Sunrun has a 12-month low of $4.15 and a 12-month high of $14.95. The company has a market cap of $517.00 million, a P/E ratio of 10.85 and a beta of -0.89.
Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.28. The firm earned $112 million during the quarter. Sunrun had a return on equity of 6.42% and a net margin of 11.00%. The company’s revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, analysts forecast that Sunrun will post $0.05 earnings per share for the current fiscal year.
In other news, major shareholder Foundation Capital Vi Principa sold 42,306 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $5.82, for a total value of $246,220.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.19% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Sunrun by 1,847.3% in the second quarter. BlackRock Inc. now owns 18,071 shares of the company’s stock worth $107,000 after buying an additional 17,143 shares during the last quarter. BlackRock Advisors LLC boosted its position in Sunrun by 304.7% in the second quarter. BlackRock Advisors LLC now owns 21,316 shares of the company’s stock worth $126,000 after buying an additional 16,049 shares during the last quarter. Alliancebernstein L.P. boosted its position in Sunrun by 153.3% in the second quarter. Alliancebernstein L.P. now owns 26,600 shares of the company’s stock worth $158,000 after buying an additional 16,100 shares during the last quarter. State Treasurer State of Michigan acquired a new position in Sunrun during the second quarter worth $161,000. Finally, Board of Trustees of The Leland Stanford Junior University acquired a new position in Sunrun during the second quarter worth $161,000. 67.76% of the stock is owned by institutional investors and hedge funds.
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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