Sunrun (RUN) Lifted to Buy at Zacks Investment Research

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $6.75 price objective on the energy company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.57% from the company’s current price.

According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “

RUN has been the topic of several other reports. BidaskClub lowered shares of Sunrun from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Bank of America assumed coverage on shares of Sunrun in a research report on Monday, November 6th. They set a “buy” rating on the stock. Finally, Oppenheimer reiterated a “buy” rating and set a $10.00 target price on shares of Sunrun in a research report on Thursday, November 9th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $7.95.

Sunrun (RUN) traded up $0.13 during midday trading on Thursday, reaching $6.05. 933,700 shares of the company’s stock traded hands, compared to its average volume of 803,000. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 0.89. The firm has a market cap of $646.06 and a price-to-earnings ratio of 6.88. Sunrun has a 52 week low of $4.21 and a 52 week high of $7.78.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.11. Sunrun had a net margin of 18.79% and a return on equity of 9.25%. The company had revenue of $141.29 million for the quarter, compared to analyst estimates of $146.56 million. During the same period last year, the business posted $0.16 EPS. The business’s quarterly revenue was up 26.1% on a year-over-year basis. sell-side analysts forecast that Sunrun will post 0.64 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Sunrun by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock valued at $141,000 after purchasing an additional 2,768 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Sunrun by 15.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 34,093 shares of the energy company’s stock valued at $243,000 after purchasing an additional 4,443 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Sunrun by 30.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock valued at $159,000 after purchasing an additional 5,134 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Sunrun by 28.9% during the 2nd quarter. Voya Investment Management LLC now owns 37,399 shares of the energy company’s stock valued at $266,000 after purchasing an additional 8,391 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Sunrun by 17.0% during the 2nd quarter. New York State Common Retirement Fund now owns 76,300 shares of the energy company’s stock valued at $543,000 after purchasing an additional 11,099 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

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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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