Sunrun’s (RUN) “Outperform” Rating Reaffirmed at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. restated their outperform rating on shares of Sunrun Inc. (NASDAQ:RUN) in a research report report published on Tuesday. They currently have a $10.00 price objective on the stock, up from their prior price objective of $9.00.
RUN has been the topic of several other reports. Goldman Sachs Group Inc. upgraded Sunrun from a neutral rating to a buy rating and boosted their price target for the stock from $7.00 to $12.00 in a report on Thursday, October 6th. Deutsche Bank AG restated a buy rating and set a $15.00 price target on shares of Sunrun in a report on Monday, August 15th. Zacks Investment Research raised Sunrun from a hold rating to a buy rating and set a $5.75 price objective on the stock in a research note on Tuesday, August 2nd. Bank of America Corp. set a $6.00 price objective on Sunrun and gave the stock a hold rating in a research note on Friday, November 11th. Finally, Credit Suisse Group AG started coverage on Sunrun in a research note on Thursday, November 3rd. They issued an outperform rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $11.23.
Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.28. The company had revenue of $112 million for the quarter. Sunrun had a return on equity of 6.42% and a net margin of 11.00%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share.
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 stock was sold at an average price of $5.82, for a total transaction of $246,220.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.19% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quentec Asset Management LLC increased its position in shares of 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 period. Robecosam AG increased its position in shares of 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 period. DNB Asset Management AS increased its position in shares of Sunrun by 22.8% in the second quarter. DNB Asset Management AS now owns 3,264,301 shares of the company’s stock worth $19,357,000 after buying an additional 606,153 shares during the period. Hamilton Lane Advisors LLC acquired a new position in shares of Sunrun during the second quarter worth about $641,000. Finally, Sage Financial Group Inc. acquired a new position in shares of Sunrun during the second quarter worth about $3,303,000. Hedge funds and other institutional investors own 67.76% 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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