Sunrun Inc. (RUN) Price Target Raised to $8.00
Sunrun Inc. (NASDAQ:RUN) had its target price lifted by research analysts at Barclays PLC from $6.00 to $8.00 in a note issued to investors on Tuesday. The brokerage presently has an “overweight” rating on the energy company’s stock. Barclays PLC’s price objective suggests a potential upside of 13.64% from the stock’s previous close.
A number of other analysts have also issued reports on the company. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a report on Wednesday, July 12th. ValuEngine upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 target price on Sunrun and gave the company a “buy” rating in a report on Tuesday, June 20th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.62.
Sunrun (RUN) traded down 4.99% during trading on Tuesday, reaching $7.05. The company’s stock had a trading volume of 2,944,477 shares. Sunrun has a 52 week low of $4.15 and a 52 week high of $7.64. The firm has a market capitalization of $743.38 million, a P/E ratio of 8.22 and a beta of -0.69. The firm has a 50-day moving average price of $6.86 and a 200-day moving average price of $5.71.
Sunrun (NASDAQ:RUN) last released its earnings results on Monday, August 7th. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $137.85 million during the quarter, compared to analyst estimates of $143.35 million. Sunrun had a return on equity of 10.42% and a net margin of 19.88%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, equities analysts anticipate that Sunrun will post $1.05 EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of RUN. Legal & General Group Plc increased its position in Sunrun by 16.3% in the second quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after buying an additional 2,768 shares during the period. IPG Investment Advisors LLC bought a new position in Sunrun during the first quarter worth $163,000. Tudor Investment Corp ET AL increased its position in Sunrun by 144.8% in the first quarter. Tudor Investment Corp ET AL now owns 32,800 shares of the energy company’s stock worth $177,000 after buying an additional 19,400 shares during the period. CAPROCK Group Inc. bought a new position in Sunrun during the second quarter worth $262,000. Finally, American International Group Inc. increased its position in Sunrun by 7.1% in the first quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock worth $210,000 after buying an additional 2,579 shares during the period. 71.63% of the stock is currently owned by institutional investors and hedge funds.
Sunrun Company Profile
Sunrun Inc 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. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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