Sunrun (RUN) Upgraded to “Strong-Buy” at Zacks Investment Research

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Saturday. The firm presently has a $6.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.64% 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. “

Several other research analysts have also weighed in on the company. Oppenheimer reiterated a “buy” rating and issued a $10.00 price objective on shares of Sunrun in a research report on Thursday, November 9th. Bank of America initiated coverage on Sunrun in a research report on Monday, November 6th. They set a “buy” rating for the company. Finally, BidaskClub upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.95.

Shares of Sunrun (NASDAQ RUN) traded up $0.02 during trading on Friday, reaching $5.94. The company had a trading volume of 919,568 shares, compared to its average volume of 747,565. The stock has a market capitalization of $635.19, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.15 and a beta of -0.70. Sunrun has a 52 week low of $4.21 and a 52 week high of $7.78. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 0.89.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.11. The company had revenue of $141.29 million during the quarter, compared to analyst estimates of $146.56 million. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. equities research analysts predict that Sunrun will post 0.95 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. purchased a new position in shares of Sunrun during the second quarter worth $112,000. Russell Investments Group Ltd. purchased a new position in shares of Sunrun during the third quarter worth $123,000. Citigroup Inc. boosted its position in shares of Sunrun by 760.3% during the second quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock worth $133,000 after buying an additional 16,507 shares during the period. Legal & General Group Plc boosted its position in shares of Sunrun by 16.3% during 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. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Sunrun by 30.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock worth $159,000 after buying an additional 5,134 shares during the period. Institutional investors and hedge funds own 77.65% of the company’s stock.

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About Sunrun

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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